Lance-Hefner Specialty Shoppes decided to use the dollar-value LIFO retail method to value its inventory. Accounting records provide the following information:

Related retail price indexes are as follows:
January 1, 2018 .......................1.00
December 31, 2018 ..................1.10
Required:
Determine ending inventory and cost of goods sold.

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Cost Retail $160,000 350,200 Merchandise inventory, January 1, 2018 Net purchases Net markups Net markdowns Net sales $250,000 510,000 7,000 2,000 380,000