RiverbedCompany began operations late in 2019 and adopted the conventional retail inventory method. Because there was no beginning inventory for 2019 and no markdowns during 2019, the ending inventory for 2019 was $13,527under both the conventional retail method and the LIFO retail method. At the end of 2020, management wants to compare the results of applying the conventional and LIFO retail methods. There was no change in the price level during 2020. The following data are available for computations.

Cost Retail Inventory, January 1, 2020 $13,527 $21,100 Sales revenue 77,000 Net markups 9,400 Net markdowns 1,400 Purchases 53,300 73,600 Freight-in 7,084 Estimated theft 1,800