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 $ 57,000 $ 76,000 224,840 310,000 8,000 10,000 287,000 1.02 Estimate ending Inventory using the dollar-value LIFO retail method. (Round ratio calculation to 2 decimal places (l.e., 0.1234 should be entered as 12.34%.)) Cost Retail Cost-to-retail Ratio S S 78,000 57,000 224,840 Beginning inventory Plus: Net purchases Net markups Less: Net markdowns Goods available for sale (excluding beginning inventory) Goods available for sale (including beginning inventory) 310,000 8.000 (10.000) 308,000 384,000 224,840 281,840 75.00% Base layer cost-to-retail percentage 2021 layer cost-to-retail percentage 73.00% (287,000) 97,000 $ Less: Net sales Estimated ending inventory at current year retail prices Estimated ending inventory at cost Estimated cost of goods sold