Willie Nelson's Boots uses the conventional retail method to estimate ending inventory. Cost data for the most recent quarter is shown below:

	Cost			Retail
Beginning inventory	$	35,000		$	70,000
Net purchases		157,000			206,000
Net markups					24,000
Net markdowns					27,000
Net sales					223,000

To the nearest thousand, estimated ending inventory using the conventional retail method is (Do not round intermediate calculations):

Multiple Choice

• $32,000.

• $20,000.

• $47,000.

• $34,000.