Valuing Inventory Using Conventional Retail Method At December 31, the following information is available from Palo Company's accounting records. If sales are $884,800 and markdowns total $11,200, compute estimated inventory at December 31 using the conventional retail method. - Note: Use negative signs as appropriate in the following schedule. - Note: Use the result above EXACTLY as shown to compute the following amount. Estimated ending inventory at cost: \$