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Uncle Butch's Hunting Supply Shop reports the following information related to inventory: Cost Retail Beginning inventory $ 3 5 , 0 0 0 $ 9

Uncle Butch's Hunting Supply Shop reports the following information related to inventory:
Cost Retail
Beginning inventory $35,000 $92,000
Purchases 75,000200,000
Net additional markups 15,000
Net markdowns (22,000)
Goods available for sale $110,000 $285,000
Sales (178,000)
Ending inventory at retail $107,000
Calculate Uncle Butch's Hunting Supply Shop's ending inventory using the retail inventory method under the lower of average cost or market assumption. Round the cost-to-retail ratio to 3 decimal places.

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