[The following information applies to the questions displayed below.) On January 1, 2021, Pet Friendly Stores...

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[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: 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 2022 Cost Retail Cost Retail) $152,750 $235,000 537,000 770,000 $700,000 $879,000 5,000 3,150 3,900 3,625 6,300 7,000 6,750 11,200 4,600 7,700 600,000 716,000 22,500 4,000 22,500 6,600 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. 2021 2022 Estimated ending inventory at retail Estimated ending inventory at cost Estimated cost of goods sold [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: 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 2022 Cost Retail Cost Retail) $152,750 $235,000 537,000 770,000 $700,000 $879,000 5,000 3,150 3,900 3,625 6,300 7,000 6,750 11,200 4,600 7,700 600,000 716,000 22,500 4,000 22,500 6,600 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. 2021 2022 Estimated ending inventory at retail Estimated ending inventory at cost Estimated cost of goods sold