Required Information 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 2021: Cost Retail Beginning inventory $ 49,000 $ 69,000 Purchases 216,000 409,000 Freight-in 25,920 Purchase returns 4,000 6,500 Net markups 6,700 Net markdowns 4,400 Normal breakage 6,500 Net sales 289,000 Employee discounts 2,700 Sales are recorded net of employee discounts. Required: 1. Compute estimated ending inventory and cost of goods sold for March applying the conventional retail method. (Round ratio calculation to 2 decimal places (1.e., 0.1234 should be entered as 12.34%.). Enter amounts to be deducted with a minus sign.) Cost Retail Cost-to-Retail Ratio S 69,000 409,000 Beginning inventory Purchases Freight-in Purchase returns Net markups 49,000 S 216,000 25,920 (4,000) (6,500) 6,700 478,200 (4.400) 473,800 Net markdowns Goods available for sale 286,920 Cost-to-retail percentage (conventional retail method) % Normal breakage Net sales: Sales Employee discounts Estimated ending inventory at retail Estimated ending inventory at cost Estimated cost of goods sold (289,000) (2.700) 182,100 S 0 Required Information 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 2021: Beginning inventory Purchases Freight-in Purchase returns Net markups Net markdowns Normal breakage Net sales Employee discounts Cost Retail $ 49,000 $ 69,000 216,000 409,000 25,920 4,000 6,500 6,700 4,400 6,500 289,000 2,700 Sales are recorded net of employee discounts. 2. Recompute the cost-to-retail percentage using the average cost method. (Round your percentage answer to 2 decimal places (i.e., 0.1234 should be entered as 12.34%).) Cost-to-retail percentage %