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 Gross purchases $200,150 Retail $430,000 Purchase returns 5,900 26,000 Purchase discounts 4,400 Gross sales 397,500 Sales returns 8,000 Employee discounts 2,500 Freight-in 28,500 Net markups 19,000 Net markdowns 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 sign.)