Presented below is information related to Kingbird Company.

Cost

Retail

Beginning inventory

$186,032$281,000

Purchases

1,393,0002,147,000

Markups

93,500

Markup cancellations

15,100

Markdowns

37,000

Markdown cancellations

4,500

Sales revenue

2,236,000

Compute the inventory by the conventional retail inventory method. (Round ratios for computational purposes to 0 decimal places, e.g. 78% and final answer to 0 decimal places, e.g. 28,987.)