At December 31, 2020, the following information is available from Burnett Company’s accounting records. If sales are $510,000 and markdowns total $13,200, compute estimated inventory at the end of 2020 using the conventional retail method
Cost Retail
Inventory, January 1, 2020 $57,600 $96,350
Purchases 327,480 529,750
Net markups 15,700
Available for sale $385,080 $641,800
Calculate the ending inventory at cost would be:_________