Matthews Electronics uses the retail method to determine inventory cost. The following information is available for the month of January 2021:

Beginning inventory, at cost		$88,000
Goods purchased at cost (net of allowances)		192,016
Net sales		319,000
Beginning inventory, at retail		134,000
Goods purchased, at retail		339,000

Calculate the estimated cost of the January 31, 2021, inventory using the retail inventory method. (Round cost-to-retail ratio to 1 decimal place, e.g. 2.5 and final answer to 0 decimal places, e.g. 5,125.)