Mosher Company uses the retail method to estimate the cost of ending inventory for its monthly interim reports. From the following facts, estimate Mosher’s ending inventory at cost for the end of January. (Round the cost ratio to the nearest tenth percent.)

January 1 inventory at cost	$16,300
January 1 inventory at retail	32,400
Net purchases at cost	111,100
Net purchases at retail	195,100
Net sales at retail	186,000