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. Cost Retail Cost-to-Retail Ratio Beginning inventory Plus: Purchases Freight-in Net markups 0 Less: Net markdowns Goods available for sale 0 0 Cost-to-retail percentage % Less: Net sales Estimated ending inventory at retail Estimated ending inventory at cost