7 On January 1, 2021, Sanderson Variety Store adopted the dollar-value LIFO retail inventory method. Accounting records provided the following information: 5 nts Beginning inventory Net purchases Net markups Net markdowns Net sales Retail price index, end of year Cost Retail $ 60,750 $ 81,000 243,090 335,000 7,000 9,000 312,000 1.04 eBook Estimate ending inventory using the dollar-value LIFO retail method. (Round ratio calculation to 2 decimal places (i.e., 0.1234 should be entered as 12.34%.)) Print Cost Retail Cost-to-retail Ratio eferences $ 81,000 60,750 $ 243,090 Beginning inventory Plus: Net purchases Net markups Less: Net markdowns Goods available for sale (excluding beginning inventory) Goods available for (including beginning inventory) 335,000 7,000 (9,000) 243,090 303,84 333,000 414,000 Base layer cost-to-retail percentage 2021 layer cost-to-retail percentage 75.00% 73.00% Less: Net sales (312,000) 102.000 $ Estimated ending inventory at current year retail prices Estimated ending inventory at cost Estimated cost of goods sold