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: 2022 Beginning inventory Purchases Purchase returns Freight-in Net markups Net markdowns. Net sales to customers Sales to employees (net of 30% discount) Normal spoilage Price Index: January 1, 2021 December 31, 2021 December 31, 2022 2021 2,500 Cost Retail $90,000 $150,000 478,000 730,000 3,500 Cost Retail $511,000 $760,000 6,960 2,200 8,000 4,000 8,500 10,000 4,000 6,000 650,000 680,000 14,000 17,500 5,000 6,600 1.00 1.03 1.06 Problem 9-13 (Static) Part 1 Required: 1. Estimate the 2021 and 2022 ending inventory and cost of goods sold using the dollar-value LIFO retail method. Estimated ending inventory at retail Estimated ending inventory at cost Estimated cost of goods sold 2021 2022