Billingsly Products uses the conventional retail method to estimate its ending inventories. The following data has been summarized for the year 2018:

	Cost			Retail
Inventory, January 1	$	62,000		$	82,500
Purchases		324,529			469,600
Net markups					8,900
Net markdowns					17,600
Net sales					401,000

Required: Estimate the ending inventory as of December 31, 2018. (Round "Cost-to-retail percentage" to one decimal place.)