Henke Co. uses the retail inventory method to estimate its inventory for interim statement purposes. Data relating to the computation of the inventory at July 31, 2014, are as follows: 
Under the lower-of-cost-or-market method, Henke's estimated inventory at July 31, 2014 is
Definitions:
Attitude Object
An entity, person, place, thing, or concept toward which an attitude is held, impacting feelings, beliefs, and behavior regarding it.
Level of Involvement
Refers to the degree of perceived relevance and personal importance that an individual attaches to a product, activity, or decision, affecting information processing and decision-making.
Available Income
The portion of an individual's or household's income that is available for spending, saving, or investing after taxes and other deductions.
Type of Involvement
Refers to the level of personal interest and importance that a consumer places on the acquisition, consumption, and disposal of a good or service.
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