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 as follows: 2016 2017 Cost Retail Cost Retail Beginning inventory $ 51,800 $ 74,000 Net purchases 101,150 125,000 $ 107,532 $ 131,700 Freight-in 3,700 4,200 Net markups 18,500 11,400 Net markdowns 3,700 3,900 Net sales to customers 125,250 118,800 Sales to employees (net of 20% discount) 3,000 6,720 Price Index: January 1, 2016 1.00 December 31, 2016 1.06 December 31, 2017 1.10 Required: Estimate the 2016 and 2017 ending inventory and cost of goods sold using the dollar-value LIFO retail inventory method. (Round your cost-to-retail percentage calculation to 2 decimal places. estimated ending inventory at retail 2016 2017 estimated ending inventory at cost estimated cost of goods sold