On January 1, 2016, HGC Camera Store adopted the dollar-value LIFO retail inventory method. Inventory transactions at both cost and retail, and cost indexes for 2016 and 2017 are a follows:

2016 2017

Cost Retail Cost Retail

Beginning inventory 28,000 40,000

Net Purchases 85,000 108,000 90,000 114,000

Freight - In 2,000 2,500

Net Markups 10,000 8,000

Net Mark downs 2,000 2,200

Net Sales to Customers 100,000 104,000

Sales to Employees (net of 20% discount) 2,400 4,000

Price index:

January 1, 2016 1.00

December 31, 2016 1.06

December 31, 2017 1.10

Required: Estimate 2016 and 2017 ending inventory at retail, ending inventory at cost and cost of goods sold using the dollar-value LIFO retail inventory method.