Pearl Inc. had beginning inventory of $11,200 at cost and $18,600 at retail. Net purchases were $124,061 at cost and $186,300 at retail. Net markups were $9,800, net markdowns were $7,100, and sales revenue was $152,700. 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

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