P 9-11 Dollar-value LIFO retail @LO9-5 On January 1, 2021, HGC Camera Store adopted the dollar-value LIFO retail inventory method. Inventory transactions at both cost and retail, and cost indexes for 2021 and 2022 are as follows: 2021 2022 Cost Retail Cost Retail Beginning inventory $ $ 28,000 40,000 $ $ Net purchases 85,000 108,000 90,000 114,00 Freight-in 2,000 2,500 Net markups 10,000 8,00 Net markdowns 2,000 2,24 Net sales to 100,000 104,00 customers Sales to employees (net 2,400 4,00 of 20% discount) Price Index: January 1, 1.C 2021 December 1.C 31, 2021 December 1.1 31, 2022 Page 503 Required: Estimate the 2021 and 2022 ending inventory and cost of goods sold using the dollar-value LIFO retail inventory method