On January 1, 2013, HGC Camera Store adopted the dollar-value LIFO retail inventory method. Inventory transactions at both cost and retail, and cost indexes for 2013 and 2014 are as follows:

Required:
Estimate the 2013 and 2014 ending inventory and cost of goods sold using the dollar-value LIFO retail inventorymethod.

2013 2014 Cost Retail Cost Retail Beginning inventory Net purchases Freight-in Net markups Net markdowns Net sales to customers Sales to employees (net of 20% discount) Price Index: $28,000 S 40,000 85,000 108,000 90,000 114,000 2,000 2,500 10,000 2,000 100,000 2,400 8,000 2,200 104,000 4,000 January 1, 2013 December 31, 2013 December 31, 2014 1.00 1.06 1.10