PRINTER VERSION Problem 9-14 (Part Level Submission) Metlock Stores Inc., which uses the conventional retail inventory method, wishes to change to the LIFO retail method beginning with the accounting year ending December Amounts as shown below appear on the store's books before adjustment. Cost Retail Inventory, January 1, 2017 $16,087 $25,500 Purchases in 2017 108,265 177,200 Markups in 2017 11,700 Markdowns in 2017 5,400 Sales revenue in 2017 167,300 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) The conventional retail method. (Round ratios for computational purposes to o decimal places, c.0.78% and final answer to o decimal places, e.g. 28,987.) Ending Inventory using the conventional retail method $. Show Work is REQUIRED for this question: Open Show. Work