View Policies Show Attempt History Current Attempt in Progress The records for the Clothing Department of Vaughn Fine Clothing are summarized below for the month of May. Inventory, May 1: at cost $ 64,100; at retail $ 98,700 Purchases in May: at retail $ 105,400; at cost $ 76,930 Freight-in: $ 2,700 Purchase returns: at cost $ 2.600, at retail $3,000 Transfers out to a nearby branch: at retail $8,700; at cost $ 7,800 Net markups: $ 6,600 Net markdowns: $3,300 Inventory losses due to normal breakage, etc: at retail $ 780 Sales at retail: $111.000 Sales returns: $ 3,700 (a) X Your answer is incorrect Compute the inventory for this department as of May 31, at retail prices. (a) X Your answer is incorrect. Compute the inventory for this department as of May 31, at retail prices. Ending inventory at retail $ 105,020 e Textbook and Media Save for later Attempts: 1 of 3 used Submit Answer (b) X Your answer is incorrect. Compute the ending inventory using lower-of-average-cost-or-market. (Round ratios for computational purposes to decimal places, eg 78% and final answer to 0 decimal places, eg. 28,987.) Ending inventory at lower-of-average-cost-or-market $ 74,5642