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 $ 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 markdowns 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 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.