Murdock Industries uses a periodic inventory system and the LIFO retail method to estimate its ending inventories. The following data has been summarized for December 31, 2018: Cost $117,000 358, 154 Inventory, January 1 Purchases Net markups Net markdowns Net sales Retail $166,000 540, 500 15,500 9,700 523,000 Required: Estimate the LIFO cost of ending inventory. Assume stable retail prices during the period. (Do not round your "Cost-to-retail percentages and round your final answer to the nearest whole number.) Estimated ending inventory