Billingsly Products uses the conventional retail method to estimate its ending inventories. The following data has been summarized for the year 2021 Cost $ 46,000 320,785 Inventory, January 1 Purchases Net markups Net markdowns Net sales Retail $ 74,500 463,200 7,300 16,000 385,000 Required: Estimate the ending inventory as of December 31, 2021. (Round "Cost-to-retail percentage" to 1 decimal place.) Estimated ending inventory at retail Estimated ending inventory at cost