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	$	168,750		$	225,000
Purchases		503,000			633,000			$	665,000		$	1,113,000
Purchase returns		4,000			3,650				3,700			5,800
Freight-in		5,800							5,000
Net markups					6,100							10,800
Net markdowns					4,450							7,500
Net sales to customers					453,000							712,000
Sales to employees (net of 30% discount)					20,300							20,300
Normal spoilage					6,000							6,400
Price Index:
January 1, 2021		1.00
December 31, 2021		1.25
December 31, 2022		1.25

Problem 9-13 (Algo) Part 1

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

2022:

Estimated ending inventory at retail?

Estimated ending inventory at cost?

Estimated cost of goods sold?