The records of Cordes Goods provided the following information for the year ended December 21 2020

	At Cost	At retail
January 1 beginning inventory	$ 854,000	$ 2,462,162
Purchases	$ 1,536,900	$ 3,975,455
Purchase returns	$ 36,900	$ 75,455
Sales		$ 5,756,000
Sales Returns		$ 89,200

Question - Prepare an estimate of the company's year end inventory using the retail method.