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 $40,000 $26,000 135,400 313,800 Purchases Returns and Allowances 5,000 6,000 Freight-in Net Markups Net Markdowns Net Sales 11,000 29,000 11,000 219,000 Your answer is partially correct. Try again. sing the retail inventory method, calculate the Lower-of-Average-Cost-or-Market of the Bronx Company's ending inventory. (Do nos enter your answers with commas.) Cost Retail Beginning Inventory Purchases Freight-in Purchases Returns and Allowances 40,000 135,400 11,000 -5,000 26,000 313,800 -6,000