7 3 points eBook Problem 17.5A (Algo) Estimating Inventory by the retall method. LO 17-5 The August 1 inventory of Hawkins Company had a cost of $71,000 and a retail value of $106,000. During August, merchandise was purchased for $93,910 and marked to sell for $133,000. August sales totaled $117,000. Required: 1. Compute the retail value of the ending inventory as of August 31. 2 Compute the approximate cost of the ending inventory. 3. Compute the cost of goods sold during August. Print References Analyze: What is the amount of estimated gross profit on sales for the month ending August 31? Complete this question by entering your answers in the tabs below. Required 1 Required 2 Required 3 Analyze Compute the retail value of the ending inventory as of August 31. Beginning inventory, August 1 Purchases Total merchandise available for sale Ending inventory at retail Cost Retail Required's Required 2 >