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imith-Kline Company maintains inventory records at selling prices as well as at cost. For 2024, the records indicate the following data: Required: Assuming the price level increased from 1.00 at January 1 to 1.20 at December 31,2024 , use the dollar-value LIFO retail method to approximate cost of ending inventory and cost of goods sold. Note: Round your intermediate and final answers to the nearest whole dollat. Enter your answers in thousands