When you undertook the preparation of the financial statements for Telfer Company at January 31, 2018, the following data were available: At Cost At Retail Inventory, February 1, 2017 $70,800 $98,500 Markdowns 35,000 Markups 63,000 Markdown cancellations 20,000 Markup cancellations 10,000 Purchases 219,500 294,000 Sales revenue 335,000 Purchases returns and allowances 4,300 5,500 Sales returns and allowances 10,000 Compute the ending inventory at cost as of January 31, 2018, using the retail method which approximates lower of cost or market. Ending inventory at cost $