Larkspur 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 2018.

Inventory, October 1, 2018 At cost $50,900 At retail 78,600 Purchases (exclusive of freight and returns) At cost 270,540 At retail 426,400 Freight-in 16,900 Purchase returns At cost 5,700 At retail 7,900 Markups 8,900 Markup cancellations 2,000 Markdowns (net) 3,500 Normal spoilage and breakage 10,000 Sales revenue 384,700

(a) Using the conventional retail method, prepare a schedule computing estimated lower-of-cost-or-market inventory for October 31, 2018. (Round ratios for computational purposes to 0 decimal places, e.g 78% and final answer to 0 decimal places, e.g. 28,987.)

Ending inventory at lower-of-cost-or-market $