Campbell Corporation uses the retail method to value its inventory. The following information is available for the year 2021: Cost $300,000 581,000 19,000 Retail $291,000 928,000 Merchandise inventory, January 1, 2021 Purchases Freight-in Net markups Net markdowns Net sales 31,000 5,000 910,000 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.) Retail Cost-to-Retail Ratio Beginning inventory $ Cost 300,000 $ 581,000 19,000 291,000 928,000 Purchases Freight-in Net markups 31,000 1,250,000 (5,000) 1,245,000 Net markdowns Goods available for sale Cost-to-retail percentage % Net sales Estimated ending inventory at retail Estimated ending inventory at cost (910,000) 335,000 $