ES PRINTER VERSION 4 BACK N Problem 9-14 (Part Level Submission) Grouper Stores Inc., which uses the conventional retail inventory method, wishes to change to the LIFO retail method beginning with the accounting yea ending December 31, 2017 Amounts as shown below appear on the store's books before adjustment. ly Cost Retail Inventory, January 1, 2017 $ 16,375 $26,200 Purchases in 2017 122,071 201,400 Markups in 2017 11,100 Markdowns in 2017 5,600 Sales revenue in 2017 175,300 You are to assume that all markups and markdowns apply to 2017 purchases, and that it is appropriate to treat the entire inventory as a single department. Compute the inventory at December 31, 2017, under the following methods (a) Grouper Stores Inc., which uses the conventional retail inventory method, wishes to change to the UFO retail method beginning with the ending December 31, 2017. Amounts as shown below appear on the store's books before adjustment. Cost Retail Inventory, January 1, 2017 $16,375 $26,200 Purchases in 2017 122,071 201,400 Markups in 2017 11,100 Markdowns in 2017 5,600 Sales revenue in 2017 175,300 You are to assume that all markups and markdowns apply to 2017 purchases, and that it is appropriate to treat the entire inventory as a department. Compute the inventory at December 31, 2017, under the following methods. The conventional retail method. (Round ratios for computational purposes to o decimal places, e.g. 78% and final answer to o de places, e.g. 28,987.) Ending inventory using the conventional retail method $ Show Work is REQUIRED for this question: Modify Show Work