e RC Ipom 39 3 points Estimate the COGS for 2013 Retail Method Manila Bread Company uses the conventional retail method (with the LCM adjustment) to estimate its ending inventories. The following data has been summarized for the year 2013: Cost Retail Inventory, January 1 $ 54,205 $ 78,000 Purchases 326,000 466,000 Not markups 8.200 Net markdowns 16,700 Net sales 412,000 40 2 points Estimate the Ending Inventory at Cost as of December 31, 2013