Smith-Kline Company maintains inventory records at selling prices as well as at cost. For 2018, the records indicate the following data:

($ in 000s) Cost Retail

Beginning inventory $72 $120

Purchases 620 926

Freight-in on purchases 25

Purchase returns 1 2

Net markups 4

Net markdowns 8

Net sales 811

Required:

Assuming the price level increased from 1 at January 1 to 1.85 at December 31, 2018, use the dollar-value LIFO retail method to approximate cost of ending inventory and cost of goods sold.

Estimated ending inventory at retail?

Estimated ending inventory at cost?

Estimated cost of goods sold?