Raleigh Department Store uses the conventional retail method for the year ended December $31,2022.$ Available information follows:

The inventory at January $1,2022,$ had a retail value of $$39,000$ and a cost of $$31,130$ based on the conventional retail method.

Transactions during $2022$ were as follows:

Cost Retail

Gross purchases $ $200,150$ $ $430,000$

Purchase returns $5,90026,000$

Purchase discounts $4,400$

Sales $397,500$

Sales returns $8,000$

Employee discounts $2,500$

Freight$-$in $28,500$

Net markups $19,000$

Net markdowns $26,000$

Sales to employees are recorded net of discounts.

The retail value of the December $31,2023,$ inventory was $$49,290,$ the cost$-$to$-$retail percentage for $2023$ under the LIFO retail method was $78\%,$ and the appropriate price index was $106\%$ of the January $1,2023,$ price level.

The retail value of the December $31,2024,$ inventory was $$46,870,$ the cost$-$to$-$retail percentage for $2024$ under the LIFO retail method was $77\%,$ and the appropriate price index was $109\%$ of the January $1,2023,$ price level.