72 E 1 Cullumber Inc. uses the retail inventory method to estimate ending inventory for its monthly financial statements. The following data pertain to a single department for the month of October 2021. Inventory, October 1, 2021 At cost $53,000 At retail 77,400 Purchases (exclusive of freight and returns) At cost 278.516 At retail 419.900 Freight-in 16,600 Purchase returns At cost 5,600 8.000 At retail 9.100 2.000 3,600 9.800 387.000 Markups Markup cancellations Markdowns (net) Normal spoilage and breakage Sales revenue -12-E I 419.900 16.600 5.600 8,000 Markups 9.100 Markup cancellations 2.000 Markdowns (net) 3,600 Normal spoilage and breakage 9,800 Sales revenue 387,000 (a) Using the conventional retail method, prepare a schedule computing estimated lower-of-cost-or-market inventory for October 31. 2021. (Round ratios for computational purposes to O decimal places, eg 78% and final answer to 0 decimal places, eg. 28,987) $ Ending inventory at lower-of-cost-or-market Freight-in Purchase returns At cost At retail