Question: Willie Nelson's Boots uses the conventional retail method to estimate ending inventory. Cost data for the most recent quarter is shown below:
Cost Retail
Beginning inventory $44,000 $70,000
Net purchases 157,000 210,000
Net markups 20,000
Net markdowns 35,000
Net sales 222,000
To the nearest thousand, estimated ending inventory using the conventional retail method is (Do not round intermediate calculations):