Billingsly Products uses the conventional retail method to estimate its ending inventories. The following data has been summarized for the year 2016:

		Cost			Retail
Inventory, January 1	$	58,000		$	80,500
Purchases		323,545			468,000
Net markups					8,500
Net markdowns					17,200
Net sales					397,000

Required:

Estimate the ending inventory as of December 31, 2016. (Round Cost-to-retail percentage" to one decimal place.)

Estimated ending inventory at retail:

Estimated ending inventory at cost: