21) The following data concerning the conventional retail inventory method are taken from the financial records of ABC Company. Cost Retail Beginning inventory $ 196,000 $ 250,000 Purchases 896,000 1,280,000 Freight-in 24,000 Net markups 80,000 Net markdowns 60,000 Sales 1,300,000 The ending inventory at retail should be? 22) Assuming no beginning inventory, FIFO-Periodic and LIFO Periodic will equal. (True/False)