Raleigh Department Store uses the conventional retail method for the year ended December 31, 2022. Available information follows:
a. The inventory at January 1, 2022, had a retail value of $45,000 and a cost of $27,500 based on the conventional retail method.
b. Transactions during 2022 were as follows:

Sales to employees are recorded net of discounts.
c. The retail value of the December 31, 2023, inventory was $56,100, the cost-to-retail percentage for 2023 under the LIFO retail method was 62%, and the appropriate price index was 102% of the January 1, 2023, price level.
d. The retail value of the December 31, 2024, inventory was $48,300, the cost-to-retail percentage for 2024 under the LIFO retail method was 61%, and the appropriate price index was 105% of the January 1, 2023, price level.

Required:
1. Estimate ending inventory for 2022 using the conventional retail method.
2. Estimate ending inventory for 2022 assuming Raleigh Department Store used the LIFO retail method.
3. Assume Raleigh Department Store adopts the dollar-value LIFO retail method on January 1, 2023. Estimate ending inventory for 2023 and 2024.

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Gross purchases Purchase returns Purchase discounts Sales Sales returns Employee discounts Freight-in Net markups Net markdowns Cost $282,000 6,500 5,000 26,500 Retail $490,000 10,000 492,000 5,000 3,000 25,000 10,000