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 $235,000 566,745 9,800 Retail $325,000 885,000 29,000 13,000 845,000 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 Cost Retail Cost-to-Retail Ratio $ 235,000 $ 325,000 566,745 885,000 Freight-in Net markups 9,800 29,000 1,239,000 Net markdowns (13,000) Goods available for sale 811,545 1,226,000 66.19 % Cost-to-retail percentage Net sales Estimated ending inventory at retail Estimated ending inventory at cost (845,000) $ 381,000 464,000