Rocketfire Corp uses the retail method to estimates its closing inventory . Extracts from the company is records follows;

At cost At retail

net sales $715000

Begining inventory $70000 143000

Purchase 365000 745000

purchase retunns 22000 43000

Additional markups 24000

Markup collections 5000

mark downs 11000

Markdown cancellations 3000

What amount should Rocketfire reports on its financial statements as ending inventory estimated using the retail method? Round your cost ratio calculations to four decimal places for example 24.76%.