Alquist Company uses the retail method to estimate its ending inventory. Selected information about its year $2024$ operations is as follows:

January $1,2024,$ beginning inventory had a cost of $$210,000$ and a retail value of $$260,000.$

Purchases during $2024$ cost $$1,467,000$ with an original retail value of $$2,330,000.$

Freight costs were $$21,000$ for incoming merchandise.

Net additional markups were $$240,000$ and net markdowns were $$170,000.$

Based on prior experience, shrinkage due to shoplifting was estimated to be $$26,000$ of retail value.

Merchandise is sold to employees at a $20\%$ of selling price discount. Employee sales are recorded in a separate account at Alquist Company uses the retail method to estimate its ending inventory.

Selected information about its year $2024$ operations is as follows:

a$.$ January $1,2024,$ beginning inventory had a cost of $$210,000$ and a

retail value of $$260,000.$

b$.$ Purchases during $2024$ cost $$1,467,000$ with an original retail value of

$$2,330,000.$

c$.$ Freight costs were $$21,000$ for incoming merchandise.

d$.$ Net additional markups were $$240,000$ and net markdowns were

$$170,000.$

e$.$ Based on prior experience, shrinkage due to shoplifting was estimated

to be $$26,000$ of retail value.

f$.$ 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 $2024$ is $$360,000.$

g$.$ Sales to customers totaled $$1,860,000$ for the year.

Required:

Estimate ending inventory and cost of goods sold using the conventional retail method.the net selling price. The b

Required:

$2.$ Estimate ending inventory and cost of goods sold using the LIFO retail method. Note: Assume stable prices.

$\backslash$table$[[,\backslash$table$[[$LIFO Retail$],[$Method$]]],[$Estimated ending inventory at retail,$],[$Estimated ending inventory at cost$,],[$Estimated cost of goods sold,$]]$