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Return to question Raleigh Department Store uses the conventional retail method for the year ended December 31, 2019. Available information follows: a. The inventory at January 1, 2019, had a retail value of $49,000 and a cost of $34,380 based on the conventional retail method b. Transactions during 2019 were as follows: Gross purchases Purchase returns Purchase discounts Gross sales Sales returns Employee discounts Freight-in Net narkups Net narkdowns Cost Retail $323,640 $530,000 6,300 14,000 5,400 509,500 10,000 5,000 28,500 29,90 14,690 Sales to employees are recorded net of discounts. c. The retail value of the December 31, 2020, inventory was $85,330, the cost-to-retail percentage for 2020 under the LIFO retail method was 69%, and the appropriate price index was 106% of the January 1, 2020, price level. d. The retail value of the December 31, 2021inventory was $52.320, the cost-to-retail percentage for 2021 under the LIFO retail method was 68%, and the appropriate price index was 109% of the January 1, 2020, price level. Required: 3. Assume Raleigh Department Store adopts the dollar-value LIFO retail method on January 1, 2020. Estimating ending inventory for 2020 and 2021 Total ending Inventory at dollar value LIFO retail cost 2020 Total ending inventory at dolore UFO retail cost 2021