Exercise 9-21 (Algo) Dollar-value LIFO retail [LO9-5] 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, 2024 Net purchases Net markups Net markdowns Cost $ 162,000 339,200 Retail $ 270,000 525,000 9,000 4,000 380,000 Net sales Related retail price indexes are as follows: January 1, 2024 1.00 December 31, 2024 1.25 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