Peacock Shoe Store uses the retail inventory method for its two departments, Women’s at cost using retail method. Shoes and Men’s Shoes. The following information for each department is obtained.

(LO 8) Item Women’s Shoes Men’s Shoes Beginning inventory at cost $ 36,500 $ 45,000 Cost of goods purchased at cost 148,000 136,300 Net sales 178,000 185,000 Beginning inventory at retail 46,000 60,000 Cost of goods purchased at retail 179,000 185,000 Instructions Compute the estimated cost of the ending inventory for each department under the retail inventory method.