Cornhusker Can Co. uses the conventional retail method to estimate ending inventories. The following data has been summarized for year ended December 31, 2018: 
Required:
Estimate the cost of ending inventory applying the conventional retail method. Assume that sales are recorded net of employee discounts.
Definitions:
Nonexcludability
Nonexcludability is a feature of public goods where it is not possible to prevent individuals from consuming the good, irrespective of whether they have contributed to its provision.
Public Goods
Goods that are non-excludable and non-rivalrous, meaning no one can be effectively excluded from use and use by one does not reduce availability to others.
Optimal Quantity
The amount of a good or service that yields the highest net benefit to producers and consumers, considering costs and benefits.
Marginal Benefit
The surplus happiness or utility experienced from using an extra unit of any good or service.
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