What are the estimated ending values using the dollar-value LIFO retail method.

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: 2022 Cost Retail Beginning inventory Purchases Purchase returns Freight-in Net markups Net markdowns Net sales to customers Sales to employees (net of 20% discount) Normal spoilage Price Index: January 1, 2021 December 31, 2021 December 31, 2022 2021 Cost Retail $140,000 $200,000 440,000 594,000 3,500 4,350 6,600 5,450 4,300 480,000 19, 200 2,900 $680,000 $854,000 3,200 4,550 5,000 9,800 7,000 702,000 19, 200 4,000 1.00 1.25 1.25 Problem 9-13 (Algo) Part 1 Required: 1. Estimate the 2021 and 2022 ending inventory and cost of goods sold using the dollar-value LIFO retail method. 2021 2022 $ 288,700 Estimated ending inventory at retail Estimated ending inventory at cost Estimated cost of goods sold