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

The inventory at January $1,2022,$ had a retail value of $$51,000$ and a cost of $$38,060$ based on the conventional retail method.

Transactions during $2022$ were as follows:

Cost Retail

Gross purchases $ $344,940$ $ $550,000$

Purchase returns $6,50016,000$

Purchase discounts $5,600$

Sales $544,000$

Sales returns $5,000$

Employee discounts $6,000$

Freight$-$in $29,500$

Net markups $31,000$

Net markdowns $16,000$

Sales to employees are recorded net of discounts.

The retail value of the December $31,2023,$ inventory was $$60,180,$ the cost$-$to$-$retail percentage for $2023$ under the LIFO retail method was $75\%,$ and the appropriate price index was $102\%$ of the January $1,2023,$ price level.

The retail value of the December $31,2024,$ inventory was $$51,450,$ the cost$-$to$-$retail percentage for $2024$ under the LIFO retail method was $74\%,$ and the appropriate price index was $105\%$ of the January $1,2023,$ price level.

Required:

$2.$ Estimate ending inventory for $2022$ assuming Raleigh Department Store used the LIFO retail method.

Note: Amounts to be deducted should be indicated with a minus sign. Round your cost$-$to$-$retail percentage calculation to $2$ decimal places $($i$.$e$.,0\mathrm{.}1234$ should be entered as $12\mathrm{.}34)$ and final answers to the nearest whole dollar.