The records for the Clothing Department of Sharapova's Discount Store are summarized below for the month of January. Inventory, January 1, at retail: $75,000 at cost: $37,000 Purchases in January, at retail: 165,000 at cost: 74,000 Freight-in, 5,000 Purchases returns, at retail: 7,900 at cost: 3,500 Net markups: 11,800 Net markdowns: 12,500 Inventory losses due to normal breakage, etc, at retail: at retail: 800 Sales at retail: 99,000 Sales returns: 2,400 Instructions: Apply the LCM conventional method and compute the inventory for this department as of January 31 at Cost