Retail Inventory Method

Uncle Butch's Hunting Supply Shop reports the following information related to inventory:

Cost	Retail
Beginning inventory	$ 35,000	$ 92,000
Purchases	75,000	200,000
Net additional markups		15,000
Net markdowns		(22,000)
Goods available for sale	$110,000	$ 285,000
Sales	(178,000)
Ending inventory at retail	$ 107,000

Calculate Uncle Butch's Hunting Supply Shop's ending inventory using the retail inventory method under the lower of average cost or market assumption. Round the cost-to-retail ratio to 3 decimal places.