Marigold Inc. had beginning inventory of $11,800 at cost and $21,000 at retail. Net purchases were $119,550 at cost and $153,400 at retail. Net markups were $10,600, net markdowns were $6,400, and sales revenue was $141,800. Compute ending inventory at cost using the conventional 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.)

Ending inventory using the conventional retail method