Exercise 9-14 (Algo) Conventional retall method [LO9-3] 10 point Campbell Corporation uses the retail method to value its inventory. The following information is available for the year 2021 Cost $220,00 614,578 9,200 Retail $310, $70,000 Merchandise inventory, January 1, 2021 Purchases Freight-in Net markups Net markdowns Net sales eticos 26,000 10.80 830,00 Required: Determine the December 31, 2021. Inventory by applying the conventional retail method using the information provided (Round ratio calculation to 2 decimal places (.e. 0.1234 should be entered as 12.34%). Enter amounts to be deducted with a minus sign.) AD Cost Cost to Read Ratio print 3 Retail 310.000 870.000 Beginning inventory Purchases Freight-in Net marups 220.000 $ 614,578 0.200 References Net markdowns Goods available for sale 28.000 1.200.000 (10.000) 1.100.000 S43,778 Cost to retail percentage Net sales Estimated ending inventory at retail Estimated ending inventory at cost (830,000) 368.000 $ 250.000