Quiz Company reported the following information for 2022.

	Cost	Retail
Inventory, January 1	$101,000	$150,000
Purchases	423,000	675,000
Purchase returns	6,000	10,125
Freight-in	8,000
Additional markups		12,000
Additional markup cancellations		5,000
Markdowns		9,000
Markdown cancellations		1,000
Sales		540,000
Sales returns and allowances		10,000

Quiz Companys historical and expected gross margin percentage is 20%.

Determine the estimate of ending inventory as of December 31, 2022 using the average cost retail inventory method.

Give your answer using dollar signs and comma but no decimal points (cents).

Round your answer to the nearest dollar.

Example: $12,345