On January 1,2016, Pet Friendly Stores adopted the retail inventory method. Inventory transactions at both cost and retail, and cost indexes for 2018 and 2017 are as follows 2016 Retail Cost Retail Beginning inventory Purchases Purchase returns Freight-in Net markups Net markdowns Net sales to customers Sales to employees (net of 20% discount) Normal spoilage Price Index $172,500 $230,000 460,000 580,000 $670,000 $937,000 3,800 3,150 3,800 5.400 8,000 7,000 5,750 4,800 450,000 24,000 3,300 11,000 7,800 82,000 24,000 8,000 January 1,2018 December 31,2016 December 31,2017 1.00 125 125 Required: 1. Estimate the 2018 and 2017ending inventory and cost ofgoods sold using the dollar-value LIFO retail method. Estimated ending inventory at retail Estimated ending inventory at cost Estimated cost of goods sold 2. Estimate the 2018 ending inventory and cost of goods sold using the average cost method. Round your cost-to-retail percentage calculation to 2 decimal places.) Estimated ending inventory at retail Estimated ending inventory at cost Estimated cost of goods sold