Lance-Hefner Specialty Shoppes decided to use the dollar-value LIFO retail method to value its inventory. Accounting records provide the following information: Merchandise inventory, January 1, 2021 Net purchases Net markups Net markdowns Net sales Cost Retail $351,000 $450,000 565,800 685,000 25,000 20,000 540,000 ipped Related retail price indexes are as follows: Book January 1, 2021 December 31, 2021 1.00 1.20 Print 0 Required: Determine ending inventory and cost of goods sold using the information provided. rences Ending inventory at retail Ending inventory at cost Cost of goods sold