On January 1, 2018, Pet Friendly Stores adopted the retail inventory method. Inventory transactions at both cost and retail, and cost indexes for 2018 and 2019 are as follows:

	2018							2019
	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, 2018		1.00
December 31, 2018		1.25
December 31, 2019		1.25

Required: 1. Estimate the 2018 and 2019 ending inventory and cost of goods sold using the dollar-value LIFO retail method.