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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

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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 $ 99 $165 684 887 Beginning inventor Purchases Freight-in on purchases Purchase returns Net markups Net markdowns Net sales 21 770 Required Assuming the price level increased from 1 at January 1 to 1.60 at December 31, 2018, use the dollar-value LIFO retail method to approximate cost of ending inventory and cost of goods sold. (Do not round intermediate calculations. Round final answers to the nearest whole dollar. Enter your answers in thousands.) Answer is complete but not entirely correct. ($ in 000s) Estimated ending inventory at retail Estimated ending inventory at cost S 275 210 592 Estimated cost of goods sold

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