Campbell Corporation uses the retail method to value its Inventory. The following Information is available for the year 2021: Merchandise inventory, January 1, 2021 Purchases Freight-in Net markups Net markdowns Net sales Cost $280,000 Retail $370,000 524,580 930,000 11,600 38,000 22,000 890,000 Required: Determine the December 31, 2021, Inventory by applying the conventional retail method using the Information provided. (Round ratio calculation to 2 decimal places (l.e., 0.1234 should be entered as 12.34%.). Enter amounts to be deducted with a minus sign.) Beginning inventory Purchases Cost Retail Cost-to-Retail Ratio $ 280,000 $ 370,000 524,580 930,000 11,600 Freight-in Net markups 38,000 1,338,000 Net markdowns (22,000) Goods available for sale 816,180 1,316,000 Cost-to-retail percentage Net sales (890,000) Estimated ending inventory at retail $ 426,000 Estimated ending inventory at cost %