Campbell Corporation uses the retail method to value its inventory. The following information is available for the year 2021: Cost Merchandise inventory, January 1, 2021 $225,000 Retail $315,000 Purchases 574,905 875,000 Freight-in 9,400 Net markups 27,000 Net markdowns Net sales 11,000 835,000 Required: Determine the December 31, 2021, inventory by applying the conventional retail method using the information provided. (Round ratio calculation to 2 decimal places (i.e., 0.1234 should be entered as 12.34%.). Enter amounts to be deducted with a minus sign.) Beginning inventory Purchases Freight-in Net markups Net markdowns Goods available for sale Cost-to-retail percentage Cost-to-Retail Cost Retail Ratio $ 225,000 $ 574,905 315,000 875,000 9,400 27,000 1,217,000 (11,000) 809,305 1,206,000 Net sales (835,000) Estimated ending inventory at retail $ 371,000 Estimated ending inventory at cost %