Pronghorn Inc. uses the retail inventory method to estimate ending inventory for its monthly financial statements. The following data pertain to a single department for the month of October 2021.

Inventory, October 1, 2021
At cost		$53,100
At retail		77,300
Purchases (exclusive of freight and returns)
At cost		247,412
At retail		426,100
Freight-in		16,700
Purchase returns
At cost		5,600
At retail		7,800
Markups		8,900
Markup cancellations		1,900
Markdowns (net)		3,700
Normal spoilage and breakage		10,000
Sales revenue		390,900

(a) Using the conventional retail method, prepare a schedule computing estimated lower-of-cost-or-market inventory for October 31, 2021. (Round ratios for computational purposes to 0 decimal places, e.g 78% and final answer to 0 decimal places, e.g. 28,987.)

Ending inventory at lower-of-cost-or-market

Pronghorn Inc. uses the retail inventory method to estimate ending inventory for its monthly financial statements. The following data pertain to a single department for the month of October 2021. $53,100 77,300 247,412 426,100 16,700 Inventory, October 1, 2021 At cost At retail Purchases (exclusive of freight and returns) At cost At retail Freight-in Purchase returns At cost At retail Markups Markup cancellations Markdowns (net) Normal spoilage and breakage Sales revenue 5,600 7,800 8,900 1,900 3,700 10,000 390,900 (a) Using the conventional retail method, prepare a schedule computing estimated lower-of-cost-or-market inventory for October 31, 2021. (Round ratios for computational purposes to 0 decimal places, e.g 78% and final answer to 0 decimal places, e.g. 28,987.) Ending inventory at lower-of-cost-or-market $