Billingsly Products uses the conventional retail method to estimate its ending inventories. The following data has been summarized for the year 2021: Inventory, January 1 Purchases Net markups Net markdowns Net sales Cost Retail $ 55,000 $ 79,000 322,828 466,800 8,200 16,900 394,000 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