Colonial Corporation uses the retail method to value its inventory. The following information is available for the year: Required: Determine ending inventory and cost of goods sold by applying the conventional retall method using the information provided. Note: Round ratio calculation to 2 decimal places (i.e., 0.1234 should be entered as 12.34% ). Enter omounts to be deducted with o minus sign. Required: Determine ending inventory and cost of goods sold by applying the conventional retail meth Note: Round ratio calculation to 2 decimal places (i.e., 0.1234 should be entered as 12.34% minus sign. Colonial Corporation uses the retail method to value its inventory. The following information is avalable for the year: Required: Determine ending inventory and cost of goods sold by applying the conventionat retail method using the information provided. Note: Round ratio calculation to 2 decimal places (i.e., 0.1234 should be entered as 12.34% ). Enter amounts to be deducted wit minus sign