Brief Exercise 9-10 Your answer is incorrect. Try again. Novak Inc. had beginning inventory of $12,000 at cost and $19,600 at retail. Net purchases were $105,056 at cost and $159,600 at retail. Net markups were $9,600, net markdowns were $6,500, and sales revenue was $160,600. Compute ending inventory at cost using the conventional retail method. (Round ratios for computational purposes to 0 decimal places, e.g. 78% and final answer to 0 decimal places, eg. 28,987.) Ending inventory using the conventional retail method 13888