Problem $9-9($Algo$)$ Retail method$$average cost and conventional $[$LO$9-3,9-4]$

Smith$-$Kline Company maintains inventory records at selling prices as well as at cost$.$ For $2024,$ the records indicate the following data:

$($$ in thousands$)$

Cost Retail

Beginning inventory $ $84$ $ $129$

Purchases $6751,010$

Freight$-$in on purchases $34$

Purchase returns $23$

Net markups $5$

Net markdowns $9$

Net sales $920$

Problem $9-9($Algo$)$ Part $1$

Required:

$1.$ Use the retail method to approximate cost of ending inventory valued under average cost method.

Note: Enter your answer in thousands including $2$ decimal places, i$.$e$.12,550$ would be $12\mathrm{.}55.$