Charleston Company has elected to use the dollar-value LIFO retail method to value its inventory. The following data has been accumulated from the accounting records:

	Cost	Retail
Merchandise inventory, January 1, 2016	$320,000	$500,000
Net purchases	670,000	1,020,000
Net markups		14,000
Net markdowns		4,000
Net sales		650,000
Pertinent retail price indexes:
January 1, 2016	1.00
December 31, 2016	1.10

Required: Estimate the ending inventory for December 31, 2016.