Target Inc. uses the Conventional Retail Inventory method (lower of cost or market) for estimating the value of its ending inventory. Relevant information for the year-ended December 31, 2023, is as follows:

	Cost	Retail
Inventory January 1, 2023	$15,000	$30,000
Sales		255,000
Purchases	170,000	260,000
Purchase returns	5,000	6,000
Net Mark-ups		16,000

Instructions: Using the table below, calculate the ending inventory value at cost using the conventional retail inventory method as of December 31, 2023.

	Cost	Retail
Inventory January 1, 2023	15,000	30,000
Purchases
Purchases returns