Estimating Inventory Using Retail Inventory Method Conventional Outlet Store applies the conventional retail inventory method. Information relating to the computation of inventory for 2020 follows. Estimated normal spoilage is 2% of sales. At Cost At Retail Beginning inventory Sales Purchases Freight-in Markups Markup cancellations Markdowns $24,000 $48,000 360,000 180,000 354,000 4,800 36,000 12,000 15,000 3,000 Markdown cancellations Calculate estimated ending inventory for 2020 using the conventional retail method. Do not round the cost ratio in your calculations. Round your final answer below to the nearest dollar. Ending inventory $ 0