The concept of inventory valuation is common to business but does not get disc

The concept of inventory valuation is common to business but does not get discussed much for personal use. Yet the idea of inventory valuation is important
to personal financial health as well. In her 2008 book The Road to Wealth Suze Orman discusses a variety of typical business practices applied to personal
use. She discusses the importance of valuing what you own. Joanne Greenwood runs a small business out of her home and had never considered calculating what
she had available for sale before reading about the need to take inventory. She calculated the cost of goods she had available for sale at the beginning of
the month to be $3100. She sold $525 during the month. The retail value of this merchandise is $4960. Using the retail method calculate the value of her
ending inventory to the nearest cent.