On January 1, 2021, HGC Camera Store adopted the dollar-value LIFO retail inventory method. Inventory transactions at both cost and retail, and cost indexes for 2021 and 2022 are as follows:

Required:Estimate the 2021 and 2022 ending inventory and cost of goods sold using the dollar-value LIFO retail inventory method.

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2022 2021 Retail Retail Cost Cost $ 40,000 Beginning inventory Net purchases Freight-in Net markups Net markdowns Net sales to customers Sales to employees (net of 20% discount) Price Index: January 1, 2021 December 31, 2021 December 31, 2022 $28,000 85,000 $90,000 2,500 $114,000 108,000 2,000 10,000 2,000 8,000 2,200 100,000 2,400 104,000 4,000 1.00 1.06 1.10