Retail-Mart values its inventory using the conventional retail inventory method. It discloses the following data for the month of June 2020.

Cost Selling Price Inventory,

June 1 $172,160 $256,000

Markdowns 67,200

Markups 92,800

Markdown cancellations 32,000

Markup cancellations 28,800

Purchases 554,240 715,520

Sales 800,000

Purchase returns and allowances 9,600 11,520

Sales returns and allowances 32,000

Compute estimated inventory at June 30, 2020, using the conventional retail inventory method. Round any cost ratios used in your calculations to two digits after the decimal; for example, use 0.42 for 0.424 or 0.43 for 0.425.