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On January 1, 2016, HGC Camera Store adopted the dol arvalue LIFO retail inventory method. Inventory transactions at both cost and retail, and cost indexes for 2016 and 2017 are as folows: 2016 201? Cost Retal Cost Retail Beginning inventory $ 53,500 $ 78,000 Net purchases 110,130 12?,000 $115,808 $133,100 Freighttn 3,900 4,400 Net markups 19,500 11,800 Net markdowns 3,900 4,100 Net sales to customers 125,330 119,140 Sales to employees [net of 20% discount) 3,600 6,000 Price Index: January 1, 2016 1.00 December31, 2016 1.08 December31, 201? 1.14 Required: Estimate the 2016 and 201? encing inventory and cost of goods sold using the dollar-value LIF'CII retail inventory method. {Round your oostto-retail percentage calculations to 2 decimal places} Estimated ending inventory at retail Estimated ending inventory at cost Estimated cost of goods sold