! Required information Problem 9-9 (Algo) 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 2021, the records indicate the following data: ($ in 0003) Beginning inventory Purchases Freight-in on purchases Purchase returns Net markups Net markdowns Net sales Cost Retail $ 73 $ 118 664 999 23 1 2 3 7 909 WN Problem 9-9 (Algo) part 2 2. Use the retail method to approximate cost of ending inventory valued under Conventional method. (Enter your answer in thousands including 2 decimal places, i.e. 12,550 would be 12.55) Ending inventory ($ in 000s) Conventional