Sheffield Inc. had beginning inventory of $23,000 at cost and $28,100 at retail. Net purchases were $158,594 at cost and $206,000 at retail. Net markups were $10,900, net markdowns were $7,000, and sales were $194,000. Calculate the ending inventory at cost using the retail method. (Round cost-to-retail ratio to 2 decimal places, e.g. 15.21% and the final answer to 0 decimal places, e.g. 5,275.)