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Please answer in the format of the question. Hawk Company's July 1...

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Accounting

Please answer in the format of the question.

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Hawk Company's July 1 inventory had a cost of $58,900 and a retail value of $74,800. During July, net purchases cost $255,200 with a retail value of $406,600. Net sales at retail for Hawk Company during July were $227,800. Calculate the ending inventory at cost using the retail inventory method. (Round the cost ratio to the nearest hundredth percent, X.XX\%, and round ending inventory to the nearest cent.)

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