Late in 2014, Joan Seceda and four other investors took the chain of Headland Department Stores private, and the company has just completed its third year of operations under the ownership of the investment group. Andrea Selig, controller of Headland Department Stores, is in the process of preparing the year-end financial statements. Based on the preliminary financial statements, Seceda has expressed concern over inventory shortages, and she has asked Selig to determine whether an abnormal amount of theft and breakage has occurred. The accounting records of Headland Department Stores contain the following amounts on November 30, 2017, the end of the fiscal year.

		Cost		Retail
Beginning inventory		$68,300		$98,600
Purchases		234,945		398,600
Net markups				49,700
Net markdowns				107,800
Sales revenue				323,900

According to the November 30, 2017, physical inventory, the actual inventory at retail is $110,200.

Assuming that prices have been stable, calculate the value, at cost, of Headland Department Stores ending inventory using the last-in, first-out (LIFO) retail method. (Round ratios for computational purposes to 0 decimal places, e.g. 78% and final answer to 0 decimal places, e.g. 28,987.) Estimate the amount of shortage, at retail, that has occurred at Headland Department Stores during the year ended November 30, 2017.