Sunland Inc. uses the retail inventory method to estimate ending inventory for its monthly financial statements. The following data pertain to a single department for the month of October 2021.

Inventory, October 1, 2021
At cost		$52,900
At retail		78,600
Purchases (exclusive of freight and returns)
At cost		283,025
At retail		425,100
Freight-in		16,400
Purchase returns
At cost		5,600
At retail		8,000
Markups		8,800
Markup cancellations		2,000
Markdowns (net)		3,500
Normal spoilage and breakage		9,800
Sales revenue		397,200

(a) Using the conventional retail method, prepare a schedule computing estimated lower-of-cost-or-market inventory for October 31, 2021. (Round ratios for computational purposes to 0 decimal places, e.g 78% and final answer to 0 decimal places, e.g. 28,987.)

Ending inventory at lower-of-cost-or-market

$