Required information [The following information applies to the questions displayed below.] 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 $42,000 and a cost of $32,690 based on the conventional retail method. b. Transactions during 2019 were as follows: Cost Gross purchases $236,780 Purchase returns 6,200 Retail $460,000 23,000 Purchase discounts 4,700 Gross sales 430,000 Sales returns 6,000 Employee discounts 5,000 Freight-in 27,000 Net markups 22,000 Net markdowns 23,000 Sales to employees are recorded net of discounts. c. The retail value of the December 31, 2020, inventory was $53,045, the cost-to-retail percentage for 2020 under the LIFO retail method was 76%, and the appropriate price index was 103% of the January 1, 2020, price level. d. The retail value of the December 31, 2021, inventory was $47,170, the cost-to-retail percentage for 2021 under the LIFO retail method was 75%, and the appropriate price index was 106% of the January 1, 2020, price level. Required: 3. 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