x Your answer is Incorrect. Try again. Grouper Company began operations late in 2019 and adopted the conventional retail inventory method. Because there was no beginning inventory for 2019 and no markdowns during 2019, the ending inventory for 2019 was $12,977 under both the conventional retail method and the LIFO retail method. At the end of 2020, management wants to compare the results of applying the conventional and LIFO retail methods. There was no change in the price level during 2020. The following data are available for computations. Cod: Rell Inventory, January 1, 2020 $12,977 $18,400 Sales revenue 80,000 Net markups 9,000 Net markdowns 1,600 Purchases 62.100 86,700 Freight-in 15,062 Estimated the 2,200 Compute the cost of me 2020 ending inventory under both: (a) The conventional retail method. (Round ratios for computational purposes to 0 decimal pianos, e.g. 78% and nal answer to 0 decimal piaoes, e.g. 28,987.) Ending inventory using the conventional retail method m (b) The LIFO retail method. (Round ratios for oomputalionai purposes to a decimal places, 2.9. 78% and nal answer: to a decimal places, 13.9. 28,987.)