Garrison Company uses the retail method of inventory costing. It started the year with an inventory that had a retail cost of $49,267.00. During the year they purchased an inventory with a retail cost of $776,039.00. After performing a physical inventory, they calculated their inventory cost at retail to be $73,447.00. The mark up is 100% of cost. Determine the ending inventory at its estimated cost.

Select the correct answer.

$73,447.00

$375,929.50

$12,543.50

$36,723.50