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

Inventory, January 1: at retail $25,000; at cost $17,000

Purchases in January: at retail $137,000; at cost $82,500

Freight-in: $7,000

Purchase returns: at retail $3,000; at cost $2,300

Transfers in from suburban branch: at retail $13,000; at cost $9,200

Net markups: $8,000

Net markdowns: $4,000

Inventory losses due to normal breakage, etc.: at retail $400

Sales revenue at retail: $95,000

Sales returns: $2,400

Ending inventory at lower-of-average-cost-or-market ?