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Alquist Company uses the retail method to estimate its ending inventory. Selected information about its year $2024$ operations is as follows:

January $1,2024,$ beginning inventory had a cost of $$270,000$ and a retail value of $$310,000.$

Purchases during $2024$ cost $$2,284,000$ with an original retail value of $$3,710,000.$

Freight costs were $$26,000$ for incoming merchandise.

Net additional markups were $$280,000$ and net markdowns were $$490,000.$

Based on prior experience, shrinkage due to shoplifting was estimated to be $$31,000$ of retail value.

Merchandise is sold to employees at a $20\%$ of selling price discount. Employee sales are recorded in a separate account at the net selling price. The balance in this account at the end of $2024$ is $$410,000.$

Sales to customers totaled $$2,900,000$ for the year.

Required:

$2.$ Estimate ending inventory and cost of goods sold using the LIFO retail method.

Note: Assume stable prices.