Question 10 --/1 View Policies Current Attempt in Progress Presented below is information related to Novak Company. Cost Retail $131,980 $286,000 Beginning inventory Purchases 1,361,000 2,123,000 Markups 95,000 15,700 Markup cancellations Markdowns 38,400 Markdown cancellations 4,700 Sales revenue 2,216,000 Compute the inventory by the conventional retail inventory method. (Round ratios for computational purposes to O decimal places, e.g. 78% and final answer to 0 decimal places, e.g. 28,987.) Ending inventory using conventional retail inventory method $