On January 1, 2016, Pet Friendly Stores adopted the 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	$	96,000		$	160,000
Purchases		520,000			803,000		$	600,000		$	950,000
Purchase returns		2,700			3,000			2,400			5,750
Freight-in		4,000						8,000
Net markups					6,000						8,200
Net markdowns					4,000						6,200
Net sales to customers					670,000						680,000
Sales to employees (net of 25% discount)					12,000						12,000
Normal spoilage					3,000						4,000
Price Index:
January 1, 2016		1.00
December 31, 2016		1.25
December 31, 2017		1.25

Etimate the 2016 and 2017 ending inventory and cost of goods sold using the dollar-value LIFO retail method