Marilee's Electronics uses a periodic inventory system and the average cost retail method to estimate ending inventory and cost of goods sold. The following data is available from the company records for the month of June 2021:

	Cost				Retail
Beginning inventory	$	87,500			$	133,000
Net purchases		279,000				515,000
Net markups						26,500
Net markdowns						38,000
Net sales						535,000

To the nearest thousand, estimated ending inventory is:

$56,000.

None of these answer choices are correct.

$59,000.

$61,000.