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 Retail $245,000 $335,000 558, 145 895,000 10,200 31,000 15,000 855,000 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.) Answer is complete but not entirely correct. Cost-to- Cost Retail Retail Ratio Beginning inventory $ 245,000 $ 335,000 Purchases 558,145 895,000 Freight-in 10,200 Net markups 31,000 1,261,000 Net markdowns (15,000) Goods available for sale 813,345 1,246,000 Cost-to-retail percentage 65.00% (855,000) $ 391,000 Net sales Estimated ending inventory at retail Estimated ending inventory at cost 254,150%