Blue Company began operations on January 1, 2019, adopting the conventional retail inventory system. None of the company’s merchandise was marked down in 2019 and, because there was no beginning inventory, its ending inventory for 2019 of$38,200 would have been the same under either the conventional retail system or the LIFO retail system.

On December 31, 2020, the store management considers adopting the LIFO retail system and desires to know how the December 31, 2020,inventory would appear under both systems. All pertinent data regarding purchases, sales, markups, and markdowns are shown below. There has been no change in the price level.

		Cost			Retail
Inventory, Jan. 1, 2020		$38,200			$59,300
Markdowns (net)					12,900
Markups (net)					22,200
Purchases (net)		129,300			178,900
Sales (net)					169,700

Determine the cost of the 2020 ending inventory under both (a) the conventional retail method and (b) the LIFO retail method.