Campbell Corporation uses the retail method to value its inventory. The following information is available for the year 2021:

	Cost			Retail
Merchandise inventory, January 1, 2021	$	250,000		$	340,000
Purchases		553,680			900,000
Freight-in		10,400
Net markups					32,000
Net markdowns					16,000
Net sales					860,000

Required: Determine the December 31, 2021, inventory by applying the conventional retail method using the information provided. (Round ratio calculation to 2 decimal places (i.e., 0.1234 should be entered as 12.34%.). Enter amounts to be deducted with a minus sign.)

January 1	$	760,000
March 31		1,360,000
June 30		992,000
September 30		760,000
December 31		560,000