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

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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 $ $80$ $ $125$

Purchases $6711,006$

Freight$-$in on purchases $30$

Purchase returns $12$

Net markups $4$

Net markdowns $8$

Net sales $916$

Problem $9-9($Static$)$ 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 $12\mathrm{.}55.$