ACC 113 Project 1D The retail inventory method is used by The Bronx Company. Inventory, purchases, and sales data for 2016 are as follows: Cost Retail Beginning Inventory $39,000 $26,000 Purchases 138,200 319,400 Purchases Returns and Allowances 4,000 5,000 Freight-in 12,000 Net Markups 30,000 Net Markdowns 12,000 Net Sales 232,000 Using the retail inventory method, calculate the Lower-of-Average-Cost-or-Market of the Bronx Company's ending inventory. (Do not use dollar signs (S) when entering To see comma-formatted numbers reflected in your final answers, you must enter your answers with commas.) Cost Retail 14 A G W Cost-to-Retail Ratio % Ending Inventory at Average Lower of Cost or Market? Compute the cost-to-Retail Ratio. (Round answers to 2 decimal places, e.g. 52.75. Do not use dollar signs ($) when entering amounts. To see comma-format reflected in your final answers, you must enter your answers with commas.) Cost-to-Retail Ratio - ( ) 100 Before moving onto the next section, please do the following (for screen help, click on the hyperlinks below) Compute the Ending Inventory at Lower-of-Average-Cost-or-Market. (Round answers to 2 decimal places, e.g. 52.75. Do not use dollar signs (s) when entering an see comma-formatted numbers reflected in your final answers, you must enter your answer with commes.) Ending Inventory at Average Lower of Cost or Market? Reformiente