The Help-U-Suceed Bookstore recently received a shipment of accounting textbooks from the publisher. Following the receipt of the shipment, the FASB issued a major new accounting standard that related directly to the contents of one chapter of the text. Portions of this chapter became "obsolete" immediately as a result of the FASB's action. In order to sell the books, the bookstore marked down the selling price and offered a separate supplement covering the new standard, which was provided at no cost by the publisher. Information relating to the cost and selling price of the text for the month of September is given below.

Based on the data given, compute the estimated inventory at the end of the month using the retail inventory method and assuming:
1. Lower-of-cost-or-market valuation
2. Average costvaluation

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Beginning inventory Purchases. Freight-in Cost Retail 2400 3000 .800 2,600 31,200 Sales