Mander Company uses the retail method to estimate the cost of ending inventory for its monthly interim reports. From the following facts, estimate Mander's ending inventory at cost for the end of January. (Round the cost ratio to the nearest tenth percent.)
January 1 inventory at cost.....................$ 16,800
January 1 inventory at retail.......................32,300
Net purchases at cost.............................110,600
Net purchases at retail...........................195,200
Net sales at retail.................................191,000