The records for the Clothing Department of Sharapovas Discount Store are summarized below for the month of January.

Inventory, January 1,

at retail:

$57,000

at cost:

$27,000

Purchases in January,

at retail:

157,000

at cost:

82,500

Freight-in,

8,000

Purchases returns,

at retail:

5,000

at cost:

2,300

Net markups:

10,800

Net markdowns:

5,500

Inventory losses due to normal breakage, etc, at retail:

at retail:

600

Sales

at retail:

92,000

Sales returns:

2,400

Instructions:

(a) Compute the inventory for this department as of January 31, at Retail