Sheridan uses the conventional retail method to determine its ending inventory at cost. Assume the beginning inventory at cost (retail) were $395000 ($599000), purchases during the current year at cost (retail) were $2155000 ($3400000), freight-in on these purchases totaled $134000, sales during the current year totaled $3100000, and net markups (markdowns) were $77000 ($113000). What is the ending inventory value at cost? Hint: Round intermediate calculation to 3 decimal places, e.g. 0.635 and final answer to 0 decimal places.

$567854. $591542. $656026. $863000.

Note: Some folks have already done it on chegg which is very confusing