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:(46,000; 63,000)
net purchases:(154,000; 215,000)
net markups: (0; 22,000)
net markdowns: (0; 35,000)
net sales: (0; 220,000)
To the nearest thousand, estimated ending inventory using the conventional retail method is: