I cannot get the answer for Estimated Ending Inventory at Cost...

Raleigh Department Store uses the conventional retail method for the year ended December 31, 2019. Available information follows:

1. The inventory at January 1, 2019, had a retail value of $51,000 and a cost of $38,060 based on the conventional retail method.
2. Transactions during 2019 were as follows:

	Cost			Retail
Gross purchases	$	344,940		$	550,000
Purchase returns		6,500			16,000
Purchase discounts		5,600
Gross sales					544,000
Sales returns					5,000
Employee discounts					6,000
Freight-in		29,500
Net markups					31,000
Net markdowns					16,000

Required: 1. Estimate ending Inventory for 2019 using the conventional retall method. (Amounts to be deducted should be indicate minus sign.) cost-to-Retail $ $ Retail 51,000 550,000 I Beginning inventory Add: Purchases Add: Freight-in Less: Purchase returns Less: Purchase discounts Add: Net markups Cost 38,060 344,840 | 29.500 (6.500) (5.600) 0 (16.000) 31,000 616.000 (10,000) 800,000 Less: Net markdowns Goods available for sale $ 400,400 Cost-to-retail percentage Less: Net sales Sales 544.000 (5.000) 6,000 Sales returns Employee discounts Estimated ending inventory at retail Estimated ending inventory at cost (545,000) 55,000 $