[This is a variation of P 9?9, modified to focus on the dollar-value LIFO retail method.] Smith-Kline Company maintains inventory records at selling prices as well as at cost. For 2021, the records indicate the following data:

Required:Assuming the price level increased from 1.00 at January 1 to 1.10 at December 31, 2021, use the dollar-value LIFO retail method to approximate cost of ending inventory and cost of goods sold.

($ in thousands) Retail Cost $ 80 $ 125 Beginning inventory Purchases 671 1,006 Freight-in on purchases Purchase returns 30 Net markups 4 Net markdowns 8. Net sales 916 2.