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Clarabell Inc. uses the conventional retail method to estimate ending inventory. Cost data for the most recent quarter is shown below: Cost Retail Beginning inventory
| Clarabell Inc. uses the conventional retail method to estimate ending inventory. Cost data for the most recent quarter is shown below: |
| Cost | Retail | |
| Beginning inventory | 126,000 | 205,000 |
| Net purchases | 430,000 | 731,000 |
| Net markup | 57,000 | |
| Net markdowns | 23,000 | |
| Net sales | 699,000 |
To the nearest thousand, estimated ending inventory using the conventional retail method is:
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