Billingsly Products uses the conventional retail method to estimate its ending inventories. The following data has been summarized for the year 2021:

	Cost			Retail
Inventory, January 1	$	61,000		$	82,000
Purchases		324,280			469,200
Net markups					8,800
Net markdowns					17,500
Net sales					400,000

Required: Estimate the ending inventory as of December 31, 2021. (Round "Cost-to-retail percentage" to 1 decimal place.)