Please answer in the format of the question.

Hawk Company's July 1 inventory had a cost of $58,900 and a retail value of $74,800. During July, net purchases cost $255,200 with a retail value of $406,600. Net sales at retail for Hawk Company during July were $227,800. Calculate the ending inventory at cost using the retail inventory method. (Round the cost ratio to the nearest hundredth percent, X.XX\%, and round ending inventory to the nearest cent.)