Campbell Corporation uses the retail method to value its inventory. The following information is available for the year 2021: Cost $200,000 593,380 8,400 Retail $290,000 850,000 Merchandise inventory, January 1, 2021 Purchases Freight-in Net markups Net markdowns Net sales 22,000 6,000 810,000 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 Retail Cost-to- Retail Ratio $ Beginning inventory Purchases Freight-in Net markups 200,000 593,380 8,400 290,000 850,000 22,000 1,162,000 (6,000) 1,156,000 Net markdowns Goods available for sale 801,780 Cost-to-retail percentage 69.36 % Net sales Estimated ending inventory at retail Estimated ending inventory at cost (810,000) 346,000 $ 239,986 >