Campbell Corporation uses the retail method to value its inventory. The following information is available for the year 2021: Cost $195,000 596,745 8,200 Retail $285,000 845,000 Merchandise inventory, January 1, 2021 Purchases Freight-in Net markups Net markdowns Net sales 21,000 5,000 805,000 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 $ 195,000 $ 285,000 Beginning inventory Purchases 596,745 845,000 8,200 Freight-in Net markups 21,000 1,151,000 (5,000) 1,146,000 Net markdowns Goods available for sale 799,945 Cost-to-retail percentage 69.80 X % Net sales (805,000) 341,000 $ Estimated ending inventory at retail Estimated ending inventory at cost 327,633 X