Part Seven: Problem (10 points) Noa Corporations uses the retail inventory method to estimate its ending inventory. The following information relates to Noa Corporation's inventory at both cost and retail for the current year. Description Beginning Inventory Purchases Purchase discount Cost $55,000 250,000 10,000 Retail $78,500 325,000 Freight-In Additional markups Markup cancellations Markdowns Markdown cancellations Sales 5,000 24,000 7.000 12,000 3,500 400,000 Instructions: Answer each of the following questions. A. What is the ending inventory at retail? B. If the ending inventory is to be valued at conventional retail method, the calculation of the cost to retail ratio should be based on what cost and retail? C. Using the conventional retail method, calculate the approximate cost of ending inventory