V. (20%) The records of Mandy's Boutique report the following data for the month of April. Sales 95,000 Purchases (at cost) 55,000 Sales returns 2,000 Purchases (at sales price) 88,000 Markups 10,000 Purchase returns (at cost) 2,000 Markup cancellations 1,500 Purchase returns (at sales price) 3,000 30,000 Markdowns 9,300 Beginning inventory (at cost) 46,500 Markdown cancellations 2,800 Beginning inventory (at sales price) Freight on purchases 2,400 Instructions Compute the ending inventory by the conventional retail inventory method