Your answer is incorrect. The records of Ivanhoe's Boutique report the following data for the month of April. 107,500 Purchases (at cost) Sales revenue Sales returns Markups Markup cancellations Markdowns Markdown cancellations $50,800 84,200 1,900 2,800 26,304 43,000 1,900 Purchases (at sales price) 10,800 Purchase returns (at cost) Purchase returns (at sales price) Beginning inventory (at cost) 1,400 9,900 2,600 Beginning inventory (at sales price 2,400 Freight on purchases Compute the ending inventory by the conventional retail inventory method. (Round ratios for computational purposes to O decimal places, eg 78% and final answer to 0 decimal places, eg. 28,987.) Ending inventory using conventional retail inventory method $ 20900