The records for the Clothing Department of Whispering Fine Clothing are summarized below for the month of May. Inventory, May 1: at cost $ 63,400; at retail $ 99.000 Purchases in May. at retail $ 105,500; at cost $ 72,090 Freight-in: $3,300 Purchase returns at cost $ 2,700; at retail $ 2,800 Transfers out to a nearby branch: at retail $8,700; at cost $ 7.000 Net markups: $ 5,600 Net markdowns $ 3.100 Inventory losses due to normal breakage, etc.: at retail $ 850 Sales at retail: $ 109,000 Sales returns: $3,500 (a) Compute the inventory for this department as of May 31, at retail prices. Ending inventory at retail $ e Textbook and Media Save for Later Attempts: 0 of 3 used Submit Answer (b) Compute the ending inventory using lower-of-average-cost-or-market. (Round ratios for computational purposes to O decimal places, eg 78% and final answer to decimal places, es. 28,987.) Ending inventory at lower-of-average-cost-or-market $ e Textbook and Media Save for Later w a Attempts: 0 of 3 used Submit