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24. Balance Industries uses the LIFO retail method to estimate its ending inventories. The following data has been summarized for December 31, 2021. Cost $116,000

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24. Balance Industries uses the LIFO retail method to estimate its ending inventories. The following data has been summarized for December 31, 2021. Cost $116,000 355,000 Beginning inventory Purchases Net markups Net markdowns Net sales Retail $165,000 540,000 15,600 9,800 522,000 Estimate the LIFO retail cost of ending inventory. Assume stable prices during the period

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