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On January 1, 2021, Pet Friendly Stores adopted the retail inventory method. Inventory transactions at both cost and retail, and cost indexes for 2021 and 2022 are as follows:

	2021							2022
	Cost			Retail				Cost			Retail
Beginning inventory	$	165,000		$	220,000
Purchases		690,000			888,000			$	680,000		$	1,069,000
Purchase returns		4,500			5,150				2,000			4,075
Freight-in		4,800							5,600
Net markups					6,600							10,600
Net markdowns					4,450							7,400
Net sales to customers					640,000							710,000
Sales to employees (net of 25% discount)					21,000							21,000
Normal spoilage					3,800							2,000
Price Index:
January 1, 2021		1.00
December 31, 2021		1.25
December 31, 2022		1.25

Required: 1. Estimate the 2021 and 2022 ending inventory and cost of goods sold using the dollar-value LIFO retail method.