On January 1, 2021, Pet Friendly Stores adopted the retail inventory method. Inventory transactions at both cost and retail, and cost indexes for 2021 and 2022 are as follows:

	2021							2022
	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, 2021		1.00
December 31, 2021		1.25
December 31, 2022		1.25

1. Estimate the 2021 and 2022 ending inventory and cost of goods sold using the dollar-value LIFO retail method.

	2021	2022
Estimated ending inventory at retail
Estimated ending inventory at cost
Estimated cost of goods sold