Campbell Corporation uses the retail method to value its inventory. The following information is available for the year 2021: Cost $230,000 $320, 000 570,880 9,680 Retail Merchandise inventory, January 1, 2021 Purchases Freight-in Net markups Net markdowns Net sales 880,000 28,000 12,000 840, 000 Required: Determine the December 31, 2021, inventory by applying the conventional retail method using the information provided. (Round ratio calculation to 2 decimal places (l.e., 0.1234 should be entered as 12.34%.). Enter amounts to be deducted with a minus sign.) Cost-to-Retail Ratio Cost Retail Beginning inventory 230,000 S 320.000 Purchases 570,880 880 000 Freight-in 9,600 Net markups 28.000 1,228,000 Net markdowns (12,000) Goods available for sale 810,480 1,216,000 Cost-to-retail percentage Net sales (840,000) 376,000 Estimated ending inventory at retal Estimated ending inventory at cost