Current Attempt in Progress Bonita Inc. uses the retail inventory method to estimate ending inventory for its monthly financial statements. The following data pertain to a single department for the month of October 2021. Inventory, October 1, 2021 At cost At retail Purchases (exclusive of freight and returns) $52,400 78,000 At cost At retail Freight-in 253,960 419,300 17,000 Purchase returns At cost 5,600 At retail Markups 7,800 9,100 Markup cancellations: Markdowns (net) 2,100 3,500 Normal spoilage and breakage 9,800 Sales revenue 383,700