Crosby Company owns a chain of hardware stores throughout the state. The company uses a periodic inventory system and the retail inventory method to estimate ending inventory and cost of goods sold. The following data are available for the three months ending March 31, 2018:

	Cost			Retail
Beginning inventory	$	330,000		$	383,000
Net purchases		756,000			1,032,000
Net markups					20,000
Net markdowns					2,000
Net sales					995,000

Required: Complete the table below to estimate the LIFO cost of ending inventory and cost of goods sold for the three months ending March 31, 2018. Assume stable retail prices during the period.

Cost-to- Retail Ratio Cost Retail $ 330,000 $ 383,000 1,032,000 20,000 2,000 1,050,000 1,433,000 Beginning inventory Plus: Net purchases 756,000 Net markups ess: Net markdowns Goods available for sale (excluding beg invento Goods available for sale (including beg invento 756,000 1,086,000 Cost-to-retail percentage 72% Less: Net sales Estimated ending inventory at retail Estimated ending inventory at cost Estimated cost of goods solo 995,000 $ 438,000