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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,

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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, 2021 Net purchases Net markups Net markdowns Net sales Cost Retail $190,000 $300,000 385,000 545,00 11, een 6.ee 430,000 Related retail price indexes are as follows: 1.00 January 1, 2021 December 31, 2021 1.2e Required: Determine ending inventory and cost of goods sold using the information provided. Ending inventory at retail Ending inventory cost Cost of goods sold

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