Compute the ending inventory at cost as of January 31, 2010, using the retail method which

When you undertook the preparation of the
financial statements for Green Company at January 31, 2010, the
following data were available:
……………………………………….At Cost…At Retail

Inventory, February 1, 2009……..$70,800…$98,500

Markdowns………………………………………35,000

Markups………………………………………….63,000

Markdown cancellations………………………..20,000

Markup cancellations…………………………..10,000

Purchases………………………….219,500….294,000

Sales……………………………………………345,000

Purchases returns and allowances….4,300…..5,500

Sales returns and allowances…………………10,000

Instructions
Compute
the ending inventory at cost as of January 31, 2010, using the retail
method which approximates lower of cost or market. Your solution should
be in good form with amounts clearly labeled.