Problem 9-10 Teal Inc. uses the retail inventory method to estimate ending inventory for its monthly financial statements. The following data pe care single department for the month 2018. $52,500 78,300 251,108 415,100 16,800 Inventory, October 1, 2018 At cost At retail Purchases (exclusive of freight and returns) At cost At retail Freight-in Purchase returns At cost At retail Markups Markup cancellations Markdowns (net) Normal spoilage and breakage Sales revenue 5.400 7.900 8.800 2,100 3.500 10,100 395.800 (a) Using the conventional retail method, prepare a schedule computing estimated lower-of-cost-or-market inventory for October 31, 2018. ( P purposes to O decimal places, eg 78 and final answer to decimal places, e.g. 28,987.) d ratios for computation Ending inventory at lower-of-cost-or-markets LINK TO TEX