Indigo Department Store converted from the conventional retail method to the LIFO retail method on January 1, 2020, and is now considering converting to the dollar-value LIFO inventory method. During your examination of the financial statements for the year ended December 31, 2021, management requested that you furnish a summary showing certain computations of inventory cost for the past 3 years. Here is the available information. 1. 2. The inventory at January 1, 2019, had a retail value of $56,300 and cost of $30,300 based on the conventional retail method. Transactions during 2019 were as follows. Purchases Purchase returns Purchase discounts Gross sales revenue (after employee discounts) Sales returns Employee discounts Freight-in Net markups Net markdowns Cost Retail $320,434 $560,400 5,300 10,200 6,100 541,500 9,200 2,900 17,600 19,700 11,700 3. 4. The retail value of the December 31, 2020, inventory was $74,600, the cost ratio for 2020 under the LIFO retail method was 62%, and the regional price index was 105% of the January 1, 2020, price level. The retail value of the December 31, 2021, inventory was $63,200, the cost ratio for 2021 under the LIFO retail method was 61%, and the regional price index was 108% of the January 1, 2020, price level. Without prejudice to your solution to part (b), assume that you computed the December 31, 2019, inventory (retail value $60,500) under the LIFO retail method at a cost of $34,183. Compute the cost of the store's 2020 and 2021 year-end inventories under the dollar-value LIFO method. (Round ratios for computational purposes to 2 decimal places, e.g. 78.72% and final answer to O decimal places, e.g. 28,987.) Inventories under the dollar-value LIFO method $ eTextbook and Media Save for Later 2020 2021 $ Attempts: 0 of 3 used Submit