The records for the Clothing Department of Pharoah's Discount Store are summarized below for the month of January. Inventory, January 1: at retail $25,300; at cost $17,300 Purchases in January: at retail $137,800; at cost $84,760 Freight-in: $7,200 Transfers in from suburban branch: at retail $13,200; at cost $9,100 Net markups: $8,100 Net markdowns: $4,000 Inventory losses due to normal breakage, etc: at retail $400 Sales revenue at retail: $96,700 Sales returns: $2,400 Compute the inventory for this department as of January 31 , at retail prices. Ending inventory at retail Attempts: 4 of 12 used (b) Compute the ending inventory using lower-of-average-cost-or-market. Ending inventory at lower-of-average-cost-or-market