Problem 149 When you undertook the preparation of the financial statements for Tefler Company at Inventory, February 1, 2017 Markdowns Markups Markdown cancellations Markup cancellations Purchases Sales revenue Purchases returns and allowances4,300 Sales returns and allowances At Cost At Retail $70,800 $98,500 35,000 63,000 20,000 10,000 219,500 294,000 335,000 5,500 10,000 Compute the ending inventory at cost as of January 31, 2018, using the retail method which approximates lower of cost or market. Ending inventory at cost