On January 1, 2021, Sanderson Variety Store adopted the dollar-value LIFO retail inventory method, Accounting records provided the following information: Beginning inventory Net purchases Net markups Net markdowns Net sales Retail price index, end of year Cost Retail $ 40,800 $ 68,000 155, 440 270,000 6,000 8,000 250,000 1.02 Estimate ending inventory using the dollar-value LIFO retail method. (Round ratio calculation to 2 decimal places (.e., 0.1234 should be entered as 12.34%.)) Cost $ 40,800 $ 155,440 Beginning inventory Plus: Net purchases Net markups Less: Net markdowns Goods available for sale (excluding beginning inventory) Goods avnilable for sale (including beginning Inventory) Retail Cost-to-retail ratio 68,000 270,000 6,000 (8,000) 268,000 336,000 155,440 196,240 Base inyer cost-to-retail porcentage 2021 layer cost-to-retail percentage 60.00% 58.00% (250,000) 86,000 $ Less: Not sales Estimated ending inventory at current year retail prices Estimated ending inventory at cost Estimated cost of goods sold