tr 1 P1. The following information pertains to inventory of Hawk, Inc. during 2019.4 Cost Retaile Inventory 1/1/2019 $30,000 $60,000 Net markups 40,000 Net markdowns (20,000) Purchases 400,000 960,000 Purchase return & allowance (30,000) (60,000) Freight-in 10,000+ Abnormal Spoilage (20,000) (40,000) Sales (600,000) Instructions: Compute COGS for 2019 using 1) the conventional average retail method and 2) LIFO retail method. 2