The Toso Company uses the retail inventory method. The following

information is available for the year ended December $31,2018$:Cost Retail Inventory $1/1/2018$ $ $390,000$ $ $650,000$ Net purchases

for the year $1,402,0001,835,000$ Net markups $75,000$ Net markdowns

$45,000$ Net sales $1,845,000$Applying the conventional retail inventory method, Toso's

inventory at December $31,2018,$ is estimated at: