The records of Kingbirds Boutique report the following data for the month of April.

Sales revenue		$95,600		Purchases (at cost)		$47,200
Sales returns		1,800		Purchases (at sales price)		85,800
Markups		9,500		Purchase returns (at cost)		1,800
Markup cancellations		1,400		Purchase returns (at sales price)		2,800
Markdowns		8,600		Beginning inventory (at cost)		36,103
Markdown cancellations		2,700		Beginning inventory (at sales price)		50,600
Freight on purchases		2,100

Compute the ending inventory by the conventional retail inventory method. (Round ratios for computational purposes to 0 decimal places, e.g. 78% and final answer to 0 decimal places, e.g. 28,987.)

Ending inventory using conventional retail inventory method

$ _____________________

Please provide explanation