The answer is NOT $288,000.

Presented below is information related to Teal Company. Cost $280,390 1,397,000 Beginning inventory Purchases Markups Markup cancellations Markdowns Markdown cancellations Sales revenue Retail $283,000 2,178,000 96,800 16,300 33,000 5,500 2,226,000 Compute the inventory by the conventional retail inventory method. (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 using conventional retail inventory methods