Portman Inc. uses the conventional retail inventory method. Expressed in millions of dollars, information about Portman's 2016 inventory account is expressed in the table below:

	Cost	Retail
Beginning inventory	$55	$90
Purchases	1,160	2,170
Freight-in	30
Purchase returns	45	115
Net markups		255
Net markdowns		100
Normal spoilage		60
Net sales		1,940

What is the value of Portman's inventory at 12/31/16?