Campbell Corporation uses the retail method to value its inventory. The following information is available for the year 2021:

	Cost			Retail
Merchandise inventory, January 1, 2021	$	340,000		$	295,000
Purchases		669,000			960,000
Freight-in		23,000
Net markups					35,000
Net markdowns					5,500
Net sales					950,000

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.)