The retail inventory method is used by The Bronx Company. Inventory, purchases, and sales data for 2016 are as follows: Cost Retail Beginning Inventory $36,000 $32,000 Purchases 140,000 324,250 Purchases Returns and Allowances 3,000 4,000 Freight-in 10,000 Net Markups 29,000 Net Markdowns 15,000 Net Sales 228,000 Cost > Using the retail inventory method, calculate the Lower-of-Average-Cost-or-Market of the Bronx Company's ending inventory. (Do not use dollar signs ($) when entering amounts. To see comma- formatted numbers reflected in your final answers, you must enter your answers with commas.) $ tA Using the retail inventory method, calculate the Lower-of-Average-Cost-or-Market of the Bronx Company's ending inventory. (Do not use dollar signs ($) when entering amounts. To see comma- formatted numbers reflected in your final answers, you must enter your answers with commas.) Cost -to-Retail Ratio 0 c > >> Ending Inventory at Average Lower of Cost or Market? $ $ % $ Note 1: Before completing this section, prepare the detailed Cost-to-Retail Ratio calculation in the following section. Add your final results here. Note 2: Before completing this coction arenare the detailed Endian Inventory/at Rataill calculation in C Ending Inventory at Average Lower of Cost or Market? $ Note 1: Before completing this section, prepare the detailed Cost-to-Retail Ratio calculation in the following section. Add your final results here. Note 2: Before completing this section, prepare the detailed Ending Inventory (at Retail) calculation in the following section. Add your final results here. Before moving onto the next section, please do the following (for screen help, click on the hyperlinks below): 1. Scroll to the end of the page and click on the "Save for Later" button to save your work. 2. When you are ready to begin the next section, you can reference the work that you have completed by clicking on the "Printer Version" button at the top of the page. Doing this will open your saved answers in a new window to help you complete the next section. Complete these steps each time you have finished a section. Do not click on the "Submit Answers" button until you have completed all of the sections. eTextbook and Media Compute the Cost-to-Retail Ratio. (Round answers to 2 decimal places, e.g. 52.75. Do not use dollar signs ($) when entering amounts. To see comma-formatted numbers reflected in your final answers, you must enter your answers with commas.) Cost- to- Retail Ratio1 ($ 0 $ -100 K % Before moving onto the next section, please do the following (for screen help, click on the hyperlinks below): 1. Scroll to the end of the page and click on the "Save for Later" button to save your work. 2. When you are ready to begin the next section, you can reference the work that you have completed by clicking on the "Printer Version" button at the top of the page. Doing this will open your saved answers in a new window to help you complete the next section. Complete these steps each time you have finished a section. Do not click on the "Submit Answers button until you have completed all of the sections. eTextbook and Media Compute the Ending Inventory at Lower-of-Average-Cost-or-Market. (Round answers to 2 decimal places, e.g. 52.75. Do not use dollar signs ($) when entering amounts. To see comma-formatted numbers reflected in your final answers, you must enter your answers with commas.) Ending Inventory at Average Lower of Cost or Market? %