Raleigh Department Store uses the conventional retail method for the year ended December 31, 2019. Available information follows:

1. The inventory at January 1, 2019, had a retail value of $49,000 and a cost of $34,380 based on the conventional retail method.
2. Transactions during 2019 were as follows:

	Cost			Retail
Gross purchases	$	323,040		$	530,000
Purchase returns		6,300			14,000
Purchase discounts		5,400
Gross sales					509,500
Sales returns					10,000
Employee discounts					5,000
Freight-in		28,500
Net markups					29,000
Net markdowns					14,000

Sales to employees are recorded net of discounts.

3. The retail value of the December 31, 2020, inventory was $85,330, the cost-to-retail percentage for 2020 under the LIFO retail method was 69%, and the appropriate price index was 106% of the January 1, 2020, price level.
4. The retail value of the December 31, 2021, inventory was $52,320, the cost-to-retail percentage for 2021 under the LIFO retail method was 68%, and the appropriate price index was 109% of the January 1, 2020, price level.

2. Estimate ending inventory for 2019 assuming Raleigh Department Store used the LIFO retail method. (Amounts to be deducted should be indicated with a minus sign.) Cost Retail Cost-to-Retail Ratio Beginning inventory Goods available for sale (excluding beginning inventory) Goods available for sale (including beginning inventory) $ 0 0 Cost-to-retail percentage Less: Net sales Sales Sales returns $ Employee discounts Estimated ending inventory at retail Estimated ending inventory at cost 0