Use for 8-10 ROUND ALL PERCENTAGES TO TWO DECIMALS EX: 43.23% The following data concerning the retail inventory method are taken from the financial records of Blake Company. Cost Retail Beginning inventory $132,000 $ 220,000 Purchases 362,500 550,000 Freight-in 16,000 Net markups 45,000 Net markdowns 16,000 Sales 625,000 8. What is the ending inventory at retail? 9. If the ending inventory is to be valued at approximately the conventional retail inventory method, the calculation of the cost to retail ratio should be based on goods available for sale at: (a) cost(dollar amount) and (b) retail(dollar amount) 10. What is the cost of ending inventory using the FIFO cost method?