The records of Alexander's Discount Store are summarized below for the month of Janua Inventory, January 1 Purchases in Janua Freight-in Purchases returns Net markups Net markdowns Inventory losses due to normal breakage, etc, at ret Sales Sales returns at retail at retail $57,000 157,000 8,000 5,000 21,800 15,500 600 92,000 2,400 $37,000 72,500 at cost at cost at retail at cost 2,500 at retail at retail Instructions (a) Compute the inventory for this department as of January 31, at Retail (b) Compute the inventory for this department as of January 31, at lower-of-average-cost-or-market Ending inventory at lower of average cost or market