Raleigh Department Store uses the conventional retail method for the year ended December $31,2022.$ Available information follows:

a$.$ The inventory at January $1,2022,$ had a retail value of $$49,000$ and a cost of $$34,380$ based on the conventional retail method.

b$.$ Transactions during $2022$ were as follows:

$\backslash$table$[[$Gross purchases,Cost,Retail$],[$Purchase returns,$$323,040,$$$530,000$