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I need help with the Ending Inventory at LCM. (last part). Thanks!

Clarke Corporation uses the conventional retail method for financial reporting. The company's inventory records are surrmarized below. (Click the icon to view the inventory records.) Requirement Estimate Clarke's ending inventory using the conventional retail method. (Round percentages to two decimal places, X.XX%.) Complete the partial table below to determine the cost-to-retail ratio. In the following step, complete the table by selecting the labels and entering the amounts needed to estimate Clarke's ending inventory using the conventional retail method. (If an input field is not used in the table, leave the input field empty; do not enter a zero. Round the cost-to-retail ratio to two decimal places, X.XX%. Round all currency amounts to the nearest whole dollar. LCM = lower-of-cost-or-market). Round all , currency amounts to the nearest whole dollar. LCM = lower-of-cost-or-market) Cost-to-Retall - X Ratio Data table Description Beginning inventory Purchases Cost 703.500 $ $ Retail 1,050,000 1,770,000 80,000 1,297,500 Cost Retail Net markups Description Beginning Inventory Purchases $ 1,050,000 $ 2.001.000 $ 703,500 $ 1,297,500 Subtotal 2,900,000 69.00 1,770,000 105,000 Cost-to-retail ratio % Net markdowns (13,000) Goods available for sale $ $ 2.001.000 $ 2,887,000 Additional markups Markup cancellations Markdowns Markdown cancellations Sales 25,000 17,000 4,000 Less: Sales at retail (2,770,000) $ 117.000 2,770,000 Ending inventory at retail Ending Inventory at LCM Print Done Help me solve this Etext pages Get more help lear all Check

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