Use the following information for the next three questions: Plank Co. uses the retail inventory method. The following information is available for the current year. Cost Retail Beginning inventory $ 78,000 $122,000 Purchases 295,000 415,000 Freight-in 5,000 Employee discounts 2,000 Net markups 15,000 Net Markdowns 20,000 Sales 390,000.

The ending inventory at retail should be a. $160,000. b. $150,000. c. $144,000. d. $140,000.

I know that the answer is D. $140,000, but I keep getting C. $144,000.