16 The Toso Company uses the retail inventory method. The following information is available for the year ended December 31, 2024: Cost Inventory 1/1/2024 01:03:45 Net purchases for the year Net sales $ 420,000 1,980,000 Retail $ 750,000 2,850,000 2,940,000 Applying the average cost retail inventory method, Toso's inventory at December 31, 2024, is estimated at: Multiple Choice $440,000. $435,000. $449,667. $458,526