Presented below is information related to Pronghorn Company.

		Cost		Retail
Beginning inventory		$ 61,600		$107,300
Purchases (net)		120,170		180,700
Net markups				10,325
Net markdowns				26,679
Sales revenue				187,090

a) Compute ending inventory at lower-of-cost-or-market.

b) Compute cost of goods sold based on (a)

c) Compute gross margin based on (a)