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Required information Problem 9-9 (Algo) Retail method-average cost and conventional (LO9-3, 9-4) (The following information applies to the questions displayed below.) Smith-Kline Company maintains inventory records at selling prices as well as at cost. For 2021, the records indicate the following data: ($ in eees) Cost Retail Beginning inventory $ 83 $ 128 674 1,009 Freight-in on purchases Purchase returns Net markups Net markdowns Purchases 33 1 2 4 8 919 Net sales oblem 9-9 (Algo) Part 1 Required: 1. Use the retail method to approximate cost of ending inventory valued under Average cost method. (Enter your answer in thousands including 2 decimal places, L.e. 12,550 would be 12.55.) Ending inventory (5 in 000) $ 38.49 Average cost 2. Use the retail method to approximate cost of ending inventory valued under Conventional method. (Enter your answer in thousands including 2 decimal places, i.e. 12,550 would be 12.55) Ending inventory (s in 000s) De Conventional