On January $1,2024,$ Pet Friendly Stores adopted the retail inventory method. Inventory transactions at both cost and retail, and cost indexes for $2024$ and $2025$ are as follows:

 $20242025$

Cost Retail Cost Retail

Beginning inventory $ $90,000$ $ $150,000$ 

Purchases $478,000730,000$ $ $511,000$ $ $760,000$

Purchase returns $2,5003,5002,2004,000$

Freight$-$in $6,9608,000$ 

Net markups $8,50010,000$

Net markdowns $4,0006,000$

Net sales to customers $650,000680,000$

Sales to employees $($net of $30\%$ discount$)14,00017,500$

Normal spoilage $5,0006,600$

Price Index:

January $1,20241\mathrm{.}00$ 

December $31,20241\mathrm{.}03$ 

December $31,20251\mathrm{.}06$ 

Problem $9-13($Static$)$ Part $1$

Required:

$1.$ Estimate the $2024$ and $2025$ ending inventory and cost of goods sold using the dollar$-$value LIFO retail method.

Note: Round your cost$-$to$-$retail percentage calculation to $2$ decimal places $($i$.$e$.,0\mathrm{.}1234$ should be $12\mathrm{.}34\%)$ and final answers to the nearest whole dollar.