Woodburn Inc. uses the retail inventory method to estimate ending inventory for its monthly financial statements. The following data pertain to a single department for the month of August 2021: Inventory, August 1, 2021 At cost $91,000 At retail 136,000 Purchases (exclusive of freight and returns) At cost 185,000 At retail 261,000 Freight-in 21,600 Purchase returns At cost 9,200 At retail 12,400 Markups 9,000 Markup cancellations 3,000 Markdowns (net) 16,600 Normal spoilage and breakage 6,000 Sales 310,000 Instructions (a) Using the conventional retail method, compute the cost of its ending inventory for August 31, 2021. (b) Using the cost retail method, compute the cost of its ending inventory for August 31, 2021.