Raleigh Department Store uses the conventional retail method for the year ended December 31, 2019. Available Information follows: a. The inventory at January 1, 2019. hod a retail value of $31,000 and a cost of $11,000 based on the conventional retail method b. Transactions during 2019 were as follows: Cost 5570,000 6,000 5,000 Retail 5953,000 4.ee Gross purchases Purchase returns Purchase discounts Gross sales Sales returns Employee discounts Freight-in Net sarkups Net arkdowns 958,00 5,000 3,000 20,00 20, een 4,00 Sales to employees are recorded net of discounts. Sales to employees are recorded net of discounts c. The retall value of the December 31, 2020, Inventory was $48,150, the cost-to-retail percentage for 2020 under the LIFO retall method was 42%, and the appropriate price index was 107% of the January 1, 2020, price level d. The retail value of the December 31, 2021, Inventory was $43,450, the cost-to-retall percentage for 2021 under the LIFO retail method was 41%, and the appropriate price index was 110% 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.) Answer is not complete. Cost Costo Retail Ratio 31.000 953.000 Beginning inventory Add: Purchases Add. Freight-in Less: Purchase returns Les Purchase discounts Add Net markups Less: Not markdowns Goods available for sale (excluding beginning inventory) Goods available for sale (including beginning inventory) 4.000 11,000 570.000 20.000 0.000 5.000 OOOOOO 20,000 4,000 s 11,000 31,000 Cost-to-retail percentage Less. Net sales Sales Sales returns Employee discounts Estimated ending inventory at retail Estimated ending inventory at cost 31.000