Marilee's Electronics uses a periodic inventory system and the average cost retail method to estimate ending inventory and cost of goods sold. The following data is available from the company records for the month of June 2021 Beginning inventory Net purchases Cost $ 85,000 274,000 Retail $132,000 510,000 Net markups Net markdowns Net sales 26,000 37,000 530,000 To the nearest thousand, estimated ending inventory is