Problem 9-9 (Algo) Retail methodaverage cost and conventional [LO9-3, 9-4]

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[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 000s)
	Cost			Retail
Beginning inventory	$	89		$	134
Purchases		680			1,015
Freight-in on purchases		39
Purchase returns		1			2
Net markups					4
Net markdowns					8
Net sales					925

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, i.e. 12,550 would be 12.55.) 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)