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, had a retail value of $36,000 and a cost of $29,570 based on the conventional retail method b. Transactions during 2019 were as follows: Retail Cost Gross purchases Purchase returns $165,860 $400,000 5,600 4,100 29,000 Purchase discounts Gross sales 323,000 Sales returns 10,000 Employee discounts Freight-in Net markups Net markdowns 3,500 30,000 16,000 29,000 Sales to employees are recorded net of discounts. of the December 31,2 20, inventory was $87,45 LIFO retail method was 67%, and the appropriate price index was 106% of the January 1, 2020, price level. d. The retail value of the December 31, 2021, inventory was $41,965, the cost-to-retail percentage for 2021 under the LIFO retail method was 66%, and the appropriate price index was 109% of the January 1, 2020, price level. c. The retail valu the cost-to-retail percentage for 2020 under the Required 2. Estimate ending inventory for 2019 assuming Raleigh Department Store used the LIFO retail method. (A should be indicated with a minus sign.) Cost-to-Retail Retail Cost Ratio Beginning inventory Goods available for sale (excluding beginning inventory) Goods available for sale (including beginning inventory) Cost-to-retail percentage Less: Net sales Sales Sales returns Employee discounts Estimated ending inventory at retail Estimated ending inventory at cost B. Assume Raleigh Department Store adopts the dollar-value LIFO retail method on January 1, 2020. Estimating ending inventory for 2020 and 2021 Total ending inventory at dollar-value LIFO retail cost, 2020 Total ending inventory at dollar-value LIFO retail cost, 2021