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Murdock Industries uses a periodic inventory system and the LIFO retail method to estimate its ending...

Murdock Industries uses a periodic inventory system and the LIFO retail method to estimate its ending inventories. The following data has been summarized for December 31, 2021:

Cost Retail
Inventory, January 1 $ 109,000 $ 158,000
Purchases 323,280 536,500
Net markups 13,900
Net markdowns 8,100
Net sales 515,000


Required:
Estimate the LIFO cost of ending inventory. Assume stable retail prices during the period. (Do not round your "Cost-to-retail percentage" and round your final answer to the nearest whole number.)

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