Inventories

BABAACSAC NANAMAN Company 2 points uses the FIFO retails method of inventory valuation. Following are the information available: * Cost Retail Beginning inventory 24,000.00 60,000.00 Purchases 120,000.00 220,000.00 Net markups 20,000.00 Net markdowns 40,000.00 Sales revenue 180,000.00 If the lower of cost or market rule is disregarded, what would be the estimated cost of ending inventory