Exercise 9-21 (Algo) Dollar-value LIFO retail (L09-5) Lance-Hefner Specialty Shoppes decided to use the dollar-value LIFO retail method to value its inventory. Accounting records provide the following information: Merchandise inventory, January 1, 2021 Net purchases Net markups Net markdowns Net sales Cost Retail $287,000 $300,000 408,800 555,000 12,000 7,000 410,000 Related retail price indexes are as follows: January 1, 2021 December 31, 2021 1.00 1.20 Required: Determine ending Inventory and cost of goods sold using the information provided. Ending inventory at retail Ending inventory at cost Cost of goods sold