The Records at the End of the Period for a Department

The records at the end of the period for a department store reflected the following: $\begin{array}{|l|l|}\hline \text { Beginning inventory (retail, } \$ 26,000) & \$ 22,800 \\\hline \text { Sales } & 120,000 \\\hline \text { Sales returns } & 4,000 \\\hline \text { Purchases (retail, } \$ 152,000) & 103,800 \\\hline \text { Purchase returns (retail, } \$ 500 \text { ) } & 400 \\\hline \text { Freight-in } & 1,600 \\\hline \text { Additional mark-ups } & 3,200 \\\hline \text { Mark-up cancellations } & 700 \\\hline \text { Markdowns } & 8,000 \\\hline \text { Markdown cancellations } & 6,000 \\\hline \text { Employee discounts } & 2,000 \\\hline\end{array}$
Compute the ending inventory at approximate lower-of-cost-or-market (average) using the retail inventory method. Show all computations.