Marilee's electronics uses a periodic inventory system and the average cost retail method to estimate ending inventory and cost of goods sold. the following data is available from the company records for the month of june 2016:
cost retail $ 80,000
beginning inventory $130,000
net purchases $261,000; $500,000
net markups $25,000
net markdowns $35,000
net sales $520,000

to the nearest thousand, estimated ending inventory is:
a. $55,000.
b. $52,000.
c. $57,000.
d. none of these answer choices are correct.