5. Roberson Corporation uses a periodic inventory system and the retail inventory method. Accounting records provided the following information for the 2018 fiscal year:

	Cost			Retail
Beginning inventory	$	225,000		$	410,000
Net purchases		645,000			1,185,000
Freight-in		16,600
Net markups					17,000
Net markdowns					5,000
Normal spoilage					2,000
Net sales					1,310,000

The company records sales to employees net of discounts. These discounts totaled $16,000 for the year. Estimate ending inventory and cost of goods sold using the conventional method.

	Cost	Retail	Cost-to-Retail Ratio
Beginning inventory	?	?
Plus: Purchases	?	?
Freight-in	?	?
Net markups	?	?
Goods available for sale
Less: Net markdowns	?	?
Goods available for sale
Cost-to-retail percentage			?
Less: Normal spoilage	?	?
Net sales	?	?
Employee discounts	?	?
Estimated ending inventory at retail		?
Estimated ending inventory at cost	?
Estimated cost of goods sold

6. On January 1, 2018, Sanderson Variety Store adopted the dollar-value LIFO retail inventory method. Accounting records provided the following information:

	Cost			Retail
Beginning inventory	$	60,750		$	81,000
Net purchases		243,090			335,000
Net markups					7,000
Net markdowns					9,000
Net sales					312,000
Retail price index, end of year					1.04

Estimate ending inventory using the dollar-value LIFO retail method. (Round your intermediate calculations to the nearest whole dollar.)

	Cost	Retail	Cost-to-retail ratio
Beginning inventory	?	?
Plus: Net purchases	?	?
Net markups	?	?
Less: Net markdowns	?	?
Goods available for sale (excluding beginning inventory)
Goods available for sale (including beginning inventory)
Base layer cost-to-retail percentage			?
2016 layer cost-to-retail percentage			?
Less: Net sales	?	?
Estimated ending inventory at current year retail prices		?
Estimated ending inventory at cost	?
Estimated cost of goods sold	?