At December 31, 2017, the following information was available from Pharoah Co.'s accounting records:

		Cost		Retail
Inventory, 1/1/17		$ 139000		$ 195000
Purchases		633000		955000
Additional markups				34000
Available for sale		$772000		$1184000

Sales for the year totaled $1050000. Markdowns amounted to $9200. Under the lower-of-cost-or-market method, Pharoah's inventory at December 31, 2017 was (Hint: Round intermediate calculation to 2 decimal places, e.g. 0.63 and final answer to 0 decimal places.)