Required information LeMay Department Store uses the retail

inventory method to estimate ending inventory for its monthly

financial statements. The following data pertain to one of its

largest departments for the month of March $2021$: Cost Retail

Beginning inventory $ $48,000$ $ $68,000$ Purchases $215,000408,000$

Freight$-$in $26,194$ Purchase returns $8,0006,000$ Net markups $6,600$

Net markdowns $4,300$ Normal breakage $6,000$ Net sales $288,000$

Employee discounts $2,600$ Sales are recorded net of employee

discount