Eaton 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, 2007, are as follows: The Inventory balance at cost on Jan/31/2007 is $200,000 and is determined to be $300,000 at retail prices. Purchases made during the year cost $1,200,000 and are determined to be $1,600,000 at retail prices. In addition, Sales for the period are $1,600,000, estimated normal shoplifting losses are $20,000, markdowns are $140,000, markdown cancelations are $30,000, markups are $130,000. Abnormal spoilage is $40,000 cost and $65,000 retail. Freight costs are $17,000. Purchase discounts are $15,000 and employee discounts are $15,000.

a) Under the lower-of-cost-or-market (conventional) method, calculate Eaton's estimated inventory at July 31, 2007.

b) Under the average cost method, calculate Eaton's estimated inventory at July 31, 2007.

c) Under the LIFO method, calculate Eaton's estimated inventory at July 31, 2007.