The records of MTL Electric Department Store provided the following data as of March 31, 2018:

	Cost	Selling Price
Inventory, January 1, 2015	$ 180,500	$ 300,000
Markups		31,000
Markup cancellations		14,000
Markdowns		12,000
Markdown cancellations		4,000
Purchases	955,000	1,453,000
Purchases returns and allowances	7,500	15,000
Sales		1,200,000
Sales returns and allowances		20,000

Required: Prepare a schedule to compute the estimated inventory at March 31, 2018.