Required information

$[$The following information applies to the questions displayed below.$]$

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 $$41,000$ and a cost of $$32,170$ based on the conventional retail method.

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

$\backslash$table$[[,$Cost,Retail$],[$Gross purchases,$$22,310,$$$450,000$