Presented below is information related to Novak Company.

Cost

Retail Beginning inventory $150,815 $283,000

Purchases 1,369,000 2,130,000 Markups 93,200 Markup cancellations 14,700 Markdowns 35,900 Markdown cancellations 4,900 Sales revenue 2,186,000

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.)

Ending inventory using conventional retail inventory method