Data below for the year ended December 31, 2016, related to Houdini Inc. Houdini started business January 1, 2016 and uses the LIFO retail method to estimate ending inventory.

Beginning inventory: Cost $86,000 and Retail $120,000

Net purchases: Cost $400,960 and Retail $580,000

Net markups: Retail $36,000

Net markdown: Retail $56,000

Net sales: Retail $519,000

Estimated ending inventory at cost is (Do not round intermediate calculations):

A.) $115,356

B.) $111,066

C.) $121,120

D.) None of these answer choices are correct

Please show work