Using the retail method and the following data, estimate the cost of ending inventory.

 

Cost

Retail

Beginning inventory

$324,000

$530,000

Cost of goods purchased

195,000

335,000

Net sales

 

320,000

 

Product

Units

Unit Recorded Cost

Unit Market Cost

20

$ 6

$ 5

B

40

9

8

C

10

12

15