A company reported the following information regarding its inventory. - Beginning inventory; cost is $70,000; retail is $130,000 - Net purchases: cost is $65,000; retail is $120,000 - Sales at retail: $145,000 The year-end inventory showed $105,000 worth of merchandise available at retail prices. What is the cost of the ending inventory? A) $48,300 B) $56,700 C) $56,441 D) $78,300 E) $105,000