When you undertook the preparation of the financial statements for Telfer Company at January 31, 2018, the following data were available: Inventory, February 1, 2017 Markdowns Markups Markdown cancellations Markup cancellations Purchases Sales revenue Purchases returns and allowances Sales returns and allowances At Cost At Retail $70,800$98,500 35,000 63,000 20,000 10,000 219,500294,000 335,000 5,500 10,000 4,300 Compute the ending inventory at cost as of January 31, 2018, using the retail method which approximates lower of cost or market Ending inventory at cost