2 Exercise 9-21 Dollar-value LIFO retail [LO9-5] Lance-Hefner Specialty Shoppes decided to use the dollar-value LIFO retail method to value its inventory. Accounting records provide the following information 6 points Cost Retail Merchandise inventory, January 1, 2018 Net purchases Net markups Net markdowns Net sales $217,000 $350,000 396,000 595,000 16,000 11,000 440,000 eBook Related retail price indexes are as follows References January 1, 2018 December 31, 2018 1.25 1.00 Required Determine ending inventory and cost of goods sold Ending inventory at retail Ending inventory at cost Cost of goods sold