Harrison Inc. uses the conventional retail method to estimate ending inventory. Cost data for the most recent year is shown below:

	Cost	Retail
Beginning Inventory	$50,000	$70,000
Purchases	224,000	320,000
Freight-In	4,800
Net Markups		20,000
Net Markdowns		14,000
Employee Discounts		5,500
Net Sales		330,500

Calculate the estimated cost of ending inventory.