The Following Information Is Available for the Month of June

Essay

The following information is available for the month of June for a retail store:
$\begin{array}{|l|r|}\hline \text { Sales } & \$ 79,000 \\\hline \text { Sales Returns } & \$ 1,000 \\\hline \text { Markups } & \$ 10,000 \\\hline \text { Markup cancellations } & \$ 1,000 \\\hline \text { Markdowns } & \$ 9,300 \\\hline \text { Purchases (at cost) } & \$ 40,000 \\\hline \text { Purchases (at retail) } & \$107,000 \\\hline \text { Purchase returns (at cost) } & \$1,200 \\\hline \text { Purchase returns (at retail) } & \$ 2,000 \\\hline \text { Beginning inventory (at cost) } & \$ 30,000\\\hline\text { Beginning inventory (at retail) }&\$46,000\\\hline\end{array}$
Required:
Calculate the ending inventory at cost using the basic retail method. Round ratios to four decimal places. (For example, 0.40127 = 0.4013)