On January 1, 2016, Sanderson Variety Store adopted the dollar-value LIFO retail inventory method. Accounting records provided the following information:

	Cost			Retail
Beginning inventory	$	44,850		$	69,000
Net purchases		171,990			275,000
Net markups					7,000
Net markdowns					9,000
Net sales					260,000
Retail price index, end of year					1.02

Calculate the inventory value at the end of the year using the dollar-value LIFO retail method. (Round your intermediate calculations to the nearest whole dollar.)

	Cost	Retail	Cost-to-retail ratio
Beginning inventory
Plus: Net purchases
Net markups
Less: Net markdowns
Goods available for sale (excluding beginning inventory)	0	0
Goods available for sale (including beginning inventory)	0	0
Base layer cost-to-retail percentage
2016 layer cost-to-retail percentage
Less: Net sales
Estimated ending inventory at current year retail prices
Estimated ending inventory at cost
Estimated cost of goods sold