Riverbed Company began operations on January 1, 2019, adopting the conventional retail inventory system. None of the companys merchandise was marked down in 2019 and, because there was no beginning inventory, its ending inventory for 2019 of $38,800 would have been the same under either the conventional retail system or the LIFO retail system. On December 31, 2020, the store management considers adopting the LIFO retail system and desires to know how December 31, 2020, inventory would appear under both systems. All pertinent data regarding purchases, sales, markups, and markdowns are shown below. There has been no change in the price level.

Determine the cost of 2020 ending inventory under both (a) the conventional retail method and (b) the LIFO retail method. (Round ratios for computational purposes to 2 decimal places, e.g. 78.72%, and final answers to 0 decimal places, e.g. 28,987.)

(a) Ending inventory using conventional retail method $enter a dollar amount rounded to 0 decimal places

(b) Ending inventory LIFO retail method $enter a dollar amount rounded to 0 decimal places

Cost Retail Inventory, Jan. 1, 2020 $38,800 $59,200 Markdowns (net) 13,200 Markups (net) 22,300 Purchases (net) 129,500 176,900 Sales (net) 165,500