Smith-Kline Company maintains inventory records at selling prices as well as at cost. For 2024, the records indicate the following data:

	($ in thousands)
	Cost	Retail
Beginning inventory	$ 70	$ 115
Purchases	661	996
Freight-in on purchases	20
Purchase returns	1	2
Net markups		3
Net markdowns		7
Net sales		906

Required:

1. Use the retail method to approximate cost of ending inventory valued under average cost method.