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 retall value of $35,000 and a cost of $29,050 based on the conventional retail method. b. Transactions during 2019 were as follows: Cout $154,950 5,500 4,000 Retail $390,000 30,000 Gross purchases Purchase returns Purchase discounts Gross salon Sales returns Employee discounts Freight-in Not markups Net markdowns 341,000 5,000 4,000 30,500 15,000 30,000 Sales to employees are recorded net of discounts. c. The retail value of the December 31, 2020, inventory was $46,800, the cost-to-retail percentage for 2020 under the LIFO retail method was 80%, and the appropriate price index was 104% of the January 1, 2020, price level. d. The retail value of the December 31, 2021, inventory was $40,660, the cost-to-retail percentage for 2021 under the LIFO retail method was 79%, and the appropriate price index was 107% of the January 1, 2020, price level. Required: 1. Estimate ending Inventory for 2019 using the conventional retail method. (Amounts to be deducted should be indicated with a minus sign.) Beginning inventory 0 Goods available for sale S 0 0 Cost-to-retail percentage Less: Net sales Sales Sales returns Employee discounts Estimated ending inventory at retail Estimated ending inventory at cost S 0 Required: 2. Estimate ending Inventory for 2019 assuming Raleigh Department Store used the LIFO retall method. (Amounts to be deducted should be Indicated with a minus sign.) Cost Rotall Cost-to-Rota Ratio Beginning inventory Goods available for sale (excluding beginning inventory) Goods available for sale (including beginning inventory) S 0 Cost-to-retail percentage Less: Net sales Sales Sales returns Employee discounts Estimated ending inventory at retail Estimated ending inventory at cost S 0 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