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, 2019. Available Information follows: a. The Inventory at January 1, 2019, had a retail value of $39,000 and a cost of $31,130 based on the conventional retail method. b. Transactions during 2019 were as follows: Cost $280,150 5,988 4,490 Retail $430,000 26,00 Gross purchases Purchase returns Purchase discounts Gross sales Sales returns Employee discounts Freight-in Net markups Net markdowns 397,500 8, see 2,500 28,500 19,000 26,000 Sales to employees are recorded net of discounts. c. The retail value of the December 31, 2020, Inventory was $49,290, the cost-to-retail percentage for 2020 under the LIFO retail method was 78%, and the appropriate price Index was 106% of the January 1, 2020, price level. d. The retail value of the December 31, 2021, Inventory was $46,870, the cost-to-retail percentage for 2021 under the LIFO retail method was 77%, and the appropriate price index was 109% of the January 1, 2020 price level. Required: 1. Estimate ending Inventory for 2019 using the conventional retail method. (Amounts to be deducted should be indicated with a minus slgn.)