On January 1, 2018, HGC Camera Store adopted the dollar-value LIFO retail inventory method. Inventory transactions at both cost and retail, and cost indexes for 2018 and 2019 are as follows:

Required:
Estimate the 2018 and 2019 ending inventory and cost of goods sold using the dollar-value LIFO retail inventory method.

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2018 2019 Retail Cost $28,000 85,000 2,000 Cost Retail $40,000 108,000 Beginning inventory Net purchases Freight-in Net markups Net markdowns Net sales to customers Sales to employees (net of 20% discount) Price Index: $114,000 $90,000 2,500 10,000 2,000 100,000 2,400 8,000 2,200 104,000 4,000 January 1, 2018 December 31. 2018 December 31. 2019 1.00 1.06 1.10