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The records for the Clothing Department of Blue Spruce's Department Store are summarized as...

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Accounting

The records for the Clothing Department of Blue Spruce's Department Store are summarized as follows for the month of January:
Inventory, January 1: at retail, $25,000; at cost, $16,000
Purchases in January: at retail, $134,000; at cost, $100,284
Freight in: $7,000
Purchase returns: at retail, $3,500; at cost, $3,200
Purchase allowances: $2,600
Transfers in from suburban branch: at retail, $13,000; at cost, $9,500
Net markups: $8,600
Net markdowns: $5,500
Inventory losses due to normal breakage and so on: at retail, $200
Sales at retail: $113,000
Sales returns: $3,000
(a) Estimate the inventory for this department as at January 31 at (1) retail and (2) cost using the retail method. (Round cost-to-retail ratio to 2 decimal places, e.g.52.75% and final answers to 0 decimal places, e.g.5,275.)
Ending inventory at retail $
Ending inventory at cost $
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