Lance-Hefner Specialty Shoppes decided to use the dollar-value LIFO retail method to value its inventory. Accounting records provide the following information: Cost Retail Merchandise inventory, January 1, 2018 Net purchases Net markups Net markdowns Net sales $270,000 $375,000 478,800 625,000 19,000 14,000 470,000 Related retail price indexes are as follows anuary 1, 2018 December 31, 2018 1.00 1.25 Required Determine ending inventory and cost of goods sold. Ending inventory at retail Ending inventory at cost Cost of goods sold $ 535,000