As of January 1, 2017, Aristotle Inc. adopted the retail method of accounting for its merchandise inventory. To prepare the stores financial statements at June 30, 2017, you obtain the following data.

		Cost			Selling Price
Inventory, January 1		$30,000			$43,000
Markdowns					10,500
Markups					9,200
Markdown cancellations					6,500
Markup cancellations					3,200
Purchases		104,800			155,000
Sales revenue					154,000
Purchase returns		2,800			4,000
Sales returns and allowances					8,000

B.) Assume that you computed the June 30, 2017, inventory to be $59,400 at retail and the ratio of cost to retail to be 69.77%. The general price level has increased from 100 at January 1, 2017, to 108 at June 30, 2017. Compute the June 30, 2017, inventory at the June 30 price level under the dollar-value LIFO retail method.