Estimating Inventory Using Retail Inventory Method-Average Cost Rainey Retailers disclosed the following data for January. At Cost At Retail Beginning inventory $12,000 $15,600 Sales 186,000 Sales returned (items restored to inventory) 3,000 Purchases 90,000 180,000 Purchase returns 1,800 3,600 Freight-in 5,400 Calculate estimated ending inventory using the retail inventory method at average cost. Carry all decimals in calculations; round the final answer to the nearest dollar. Ending inventory $