On January 1, 2024, Select 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 Beginning inventory Plus: Net purchases Net markups Estimate ending inventory using the dollar-value LIFO retail method. Note: Round ratio calculation to 2 decimal places (i.e., 0.1234 should be entered as 12.34%.) Less: Net markdowns Goods available for sale (excluding beginning inventory) Goods available for sale (including beginning inventory) Base layer cost-to-retail percentage 2024 layer cost-to-retail percentage Less: Net sales Cost $ 43,800 169,940 Estimated ending inventory at current year retail prices Estimated ending inventory at cost Estimated cost of goods sold Retail $ 73,000 295,000 5,000 7,000 272,000 1.04 $ Cost 43,800 $ 169,940 169,940 213,740 $ Retail 73,000 295,000 5,000 (7,000) 293,000 366,000 (272,000) 94,000 Cost-to-retail Ratio 60.00% 58.00%