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ABC Company reported the following information relating to its inventory: sales revenue . . . . . . . . . . . . .

ABC Company reported the following information relating
to its inventory:
sales revenue ..................... $265,000
purchase returns ................. $ 4,000
beginning inventory .................?
gross profit ....................... $103,000
purchases .......................... $174,000
freight-out ........................ $ 11,000
sales returns & allowances ........ $ 36,000
ending inventory .................. $ 92,000
purchase discounts ................. $ 24,000
Calculate ABC Company's beginning inventory.
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