Required information Exercise 9-17 (Algo) Conventional and average cost retail methods; employee discounts [LO9-3, 9-4] Skip to question LeMay Department Store uses the retail inventory method to estimate ending inventory for its monthly financial statements. The following data pertain to one of its largest departments for the month of March: Cost Retail Beginning inventory $ 43,000 $ 63,000 Purchases 210,000 403,000 Freight-in 17,322 Purchase returns 5,500 7,500 Net markups 6,100 Net markdowns 3,800 Normal breakage 7,500 Net sales 283,000 Employee discounts 2,100 Sales are recorded net of employee discounts