Problem 9-9 (Static) 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 2024, the records indicate the following data: Beginning inventory Purchases Freight-in on purchases Purchase returns Net markups Net markdowns Net sales ($ in thousands) Cost Retail $ 80 $ 125 671 1,006 30 1 2400 8 916 Problem 9-9 (Static) part 2 2. Use the retail method to approximate cost of ending Inventory valued under conventiona method. Note: Enter your answer in thousands Including 2 decimal places, I.e. 12,550 would be 12.55. Ending inventory ($ in 000s) Conventional $ 145.00