Jones Company uses the retail method to estimate its ending inventory. Selected information about its year 2015 operations is as follows: a. January 1, 2015 beginning inventory had a cost of $10,000 and a retail value of $15,000. b. Purchases during 2015 cost $138,750 with an original retail value of $200,000 c. Freight costs were $1,000 for incoming merchandise and $2,500 for outgoing (sold) merchandise d. Net additional markups were $30,000 and net markdowns were $15,000 Ve. Based on prior experience, shrinkage due to shoplifting was estimated to be $1,500 of retail value f. Merchandise is sold to employees at a 20% 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 2015 is $25,000 g. Sales to customers totaled $175,000 for the year. this Required: Estimate ending inventory and cost of goods sold using the LIFO retail method (Assume stable prices). Your work should be shown below and provide a complete analysis showing how you arrived at your answers. knew F format