The records for the Clothing Department of Sandhill's Discount Store are summarized below for the month of January. Inventory, January 1: at retail $24,900; at cost $16,600 Purchases in January: at retail $138,700; at cost $81,892 Freight-in: $7,000 Purchase returns: at retail $3,000; at cost $2,200 Transfers in from suburban branch: at retail $12,800; at cost $9,300 Net markups: $8,200 Net markdowns: $4,000 Inventory losses due to normal breakage, etc.: at retail $400 Sales revenue at retail: $96,600 Sales returns: $2,400 (a). (b) Compute the ending inventory using lower-of-average-cost-or-market. Ending inventory at lower-of-average-cost-or-market