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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
| 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 | $49,000 | $56,000 |
| Net purchases | 164,000 | 207,000 |
| Net markups | 21,000 | |
| Net markdowns | 27,000 | |
| Net sales | 229,000 |
| To the nearest thousand, estimated ending inventory using the conventional retail method is (Do not round intermediate calculations): |
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