Data below for the year ended December $31,2024,$ relates to Houdini Incorporated Houdini started business January $1,2024,$ and uses the LIFO retail method to estimate ending inventory.

Cost Retail

Beginning inventory $ $66,000$ $ $104,000$

Net purchases $280,000420,000$

Net markups $20,000$

Net markdowns $40,000$

Net sales $375,000$

Estimated ending inventory at retail is:

Multiple Choice

$$169,600.$

$$65,000.$

$$129,000.$

$$25,000.$