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Required information [The following infomation applies to the questions displayed below] Alquist Company uses the retall 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 $312,000 and a retail value of $330,000 b. Purchases during 2024 cost $1,740,000 with an original retail value of $2,670,000 c. Freight costs were $28,000 for incoming merchandise d. Net additional markups were $250,000 and net markdowns were $320,000 e. Based on prior experience, shrinkage due to shoplifting was estimated to be $33,000 of retail value f. Merchandise is sold to employees at a 20%6 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 $430,000. 9. Sales to customers totaled $2.000,000 for the year. Required: 2. Estimate ending inventory and cost of goods sold using the LiFO retail method. Note: Assume stable prices. (* Answer is complete but not entirely correct