Question 17 Determine the ending inventory under the conventional retail method for the furniture department of Grouper Department Stores from the following data. (Round ratio of cost to selling price to 2 decimal places, e.g. 15.25% and final answer to o decimal places, e.g. 5,125.) Inventory, Jan. 1 Purchases Freight-in Markups, net Markdowns, net Sales revenue Cost Retail $150,500 $284,600 1,467,000 2,195,500 67,400 96,500 50,000 2,139,700 Ending inventory