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 $205,000 $295,000 Purchases 507,264 855,000 Freight-in 8,600 Net markups 23,000 Net markdowns 7,000 Net sales 815,000 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 Cost-to-Retail Retail Ratio 295,000 855,000 Beginning inventory Purchases Freight-in Net markups 205,000 $ 607,264 8,600 23,000 1,173,000 (7.000) 1,106,000 Net markdowns Goods available for sale 820,864 Cost-to-retail percentage Net sales Estimated ending Inventory at retail Estimated ending Inventory at cost (815,000) 351.000 $