work Soved Help Save . EX information Tollows: Checht a The inventory at January 1, 2019, had a retail value of $48,000 and a cost of $32,600 based on the conventional retail method b. Transactions during 2019 were as follows: Cost $312, 360 6, 208 5,3ee Retail $520,000 13,080 Gross purchases Purchase returns Purchase discounts Gross sales Sales returns Employee discounts Freight-in Net markups Net markdowns 511,500 5, eee 4,500 28,eee 28,000 13,00 Sales to employees are recorded net of discounts c. The retail value of the December 31, 2020, inventory was $64,050, the cost-to-retail percentage for 2020 under the LIFO retail method was 68%, and the appropriate price index was 105% of the January 1, 2020, price level d. The retail value of the December 31, 2021, Inventory was $51,300, the cost-to-retail percentage for 2021 under the LIFO retail method was 67%, and the appropriate price index was 108% of the January 1, 2020, price level Saved Help Save & Liro recall method was b/mo, ana une appropriate price index was 100% of the January 1, 2020, pnce level Required: 2. Estimate ending inventory for 2019 assuming Raleigh Department Store used the LIFO retail method. (Amounts to be dedi should be indicated with a minus sign.) Cost Retail Cost-to-Retail Ratio Beginning inventory Goods available for sale (excluding beginning inventory) Goods available for sale (including beginning inventory) $ 0 0 Required information Goods available for sale (excluding beginning inventory) Goods available for sale (including beginning inventory) $ 0 0 Cost-to-retail percentage Less: Net sales Sales Sales returns Employee discounts Estimated ending inventory at retail Estimated ending inventory at cost $ cost