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 $290,000 514,000 12,000 Retail $380,000 940,000 40,000 24,000 900,000 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.) Cost Retail Cost-to-Retail Ratio Beginning inventory $ 290,000 $ 380,000 Purchases 514,000 940,000 Freight-in Net markups 12,000 40,000 1,360,000 Net markdowns (24,000) Goods available for sale 816,000 1,336,000 Cost-to-retail percentage Net sales (900,000) Estimated ending inventory at retail $ 436,000 Estimated ending inventory at cost %