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	$	162,500		$	250,000
Purchases		800,000			1,084,000		$	680,000		$	1,063,000
Purchase returns		7,000			12,150			2,000			4,300
Freight-in		12,500						2,000
Net markups					6,900						11,800
Net markdowns					4,750						8,000
Net sales to customers					950,000						722,000
Sales to employees (net of 25% discount)					22,500						22,500
Normal spoilage					4,200						6,900
Price Index:
January 1, 2016		1.00
December 31, 2016		1.25
December 31, 2017		1.25

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

2.

Estimate the 2016 ending inventory and cost of goods sold using the average cost method

3.	Estimate the 2016 ending inventory and cost of goods sold using the conventional retail method.