! Required information (The following information applies to the questions displayed below.] 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: 2022 Cost Retail Beginning inventory Purchases Purchase returns Freight-in Net markups Net markdowns Net sales to customers Sales to employees (net of 30% discount) Normal spoilage Price Index: January 1, 2021 December 31, 2021 December 31, 2022 2021 Cost Retail $111,600 $180,000 488,000 685,000 3,100 4,000 6,500 5,650 4,150 525,000 14,000 1,600 $ 640,000 $808,000 2,800 6,400 6,000 9,000 6,600 645,000 14,000 2,300 1.00 1.20 1.25 Required: 1. Estimate the 2021 and 2022 ending inventory and cost of goods sold using the dollar-value LIFO retail method. 2021 2022 Estimated ending inventory at retail Estimated ending inventory at cost Estimated cost of goods sold