Retail-Mart values its inventory using the conventional retail inventory method. It discloses the following data for the month of June. Cost Selling Price Inventory (beginning), June 1. $64,560 $96,000 Markdowns 25,200 Markups 34,800 Markdown cancellations 12,000 Markup cancellations 10,800 Purchases 207,840 268,320 Sales 300,000 Purchase returns and allowances 3,600 4,320 Sales returns and allowances 12,000 Compute estimated inventory at June 30 using the conventional retail inventory method. Note: Use negative signs as appropriate in the following schedule. Goods available for sale: Beginning inventory Add: Net purchases Net markups Net markdowns Total goods available for sale Subtract: Net sales Net markups Net markdowns Estimated ending inventory at retail Cost Ratio Numerator / Denominator $ tA / $ Cost Retail $ tA $ $ GA = Result $ Estimated ending inventory at cost Estimated ending inventory at retail cost ratio $ 0 Estimated ending inventory at cost