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: Cost 2022 Retail Beginning inventory Purchases Purchase returns Freight-in Net markups Net markdowns Net sales to customers Sales to employees (net of 25% discount) Normal spoilage Price Index: January 1, 2021 December 31, 2021 December 31, 2022 2021 Cost Retail $165,000 $220,000 690,000 888,000 4,500 5,150 4,800 6,600 4,450 640,000 21,000 3,800 $680,000 $1,069,000 2,000 4,075 5,600 10,600 7,400 710,000 21,000 2,000 1.00 1.25 1.25 Required: 1. Estimate the 2021 and 2022 ending inventory and cost of goods sold using the dollar-value LIFO retail method. Estimated ending inventory at retail Estimated ending inventory at cost Estimated cost of goods sold $ $ $ 2021 433,200 $ 263,717| $ 591,583 $ 2022 919,708 512,809 473,600