Lance-Hefner Specialty Shoppes decided to use the dollar-value LIFO retail method to value its inventory. Accounting records provide the following information: Cost Merchandise inventory, January 1, 2024 Net purchases $ 270,000 478,800 Retail $ 375,000 625,000 Net markups Net markdowns Net sales Related retail price indexes are as follows: 19,000 14,000 470,000 January 1, 2024 1.00 December 31, 2024 1.25 Required: Determine ending inventory and cost of goods sold using the information provided. Ending inventory at retail $ 535,000 Ending inventory at cost $ 320,753 Cost of goods sold