Balto's Pet Foods had the following information for its year ended October 31, 2020. Balto uses the average cost retail inventory method. What should Balto report as ending inventory on its October 31, 2020 balance sheet? Beginning inventory Purchases Cost $40,000 400,000 15,000 Retail $100,000 760,000 Purchase discounts Net markdowns 10,000 580,000 Net sales $270,000 $290,000 $290,000 $135,000