Alquist Company uses the retail method to estimate its ending inventory. Selected information about its year 2018 operations is as follows:

January 1, 2018, beginning inventory had a cost of $100,000 and a retail value of $150,000.

Purchases during 2018 cost $1,387,500 with an original retail value of $2,000,000.

Freight costs were $10,000 for incoming merchandise.

Net additional markups were $300,000 and net markdowns were $150,000.

Based on prior experience, shrinkage due to shoplifting was estimated to be $15,000 of retail value.

Merchandise is sold to employees at a 20% of selling price discount. Employee sales are recorded in a separate account at the net selling price. The balance in this account at the end of 2018 is $250,000.

Sales to customers totaled $1,750,000 for the year.

Required: 1. Estimate ending inventory and cost of goods sold using the conventional retail method. (Round your cost-to-retail percentage calculation to whole dollars.) 2. Estimate ending inventory and cost of goods sold using the LIFO retail method. (Assume stable prices.)