In 2011, Wichita Company had net sales (at retail) of $130,000. The following additional information is available from its records at the end of 2011. Use the retail inventory method to estimate Wichita’s 2011 ending inventory at cost.
| At Cost | At Retail |
Beginning inventory | $ 31,900 | $64,200 |
Cost of goods purchased | 57,810 | 98,400 |
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