Please show work clearly and explain step by step thank you. This is Intermediate Accounting.

Harvey's Junk Jewelry started business January 1, 2021, and uses the LIFO retail method to estimate ending inventory. Listed below is data accumulated for the year ended December 31, 2021: Cost Retail Beginning inventory $15 , 500 $23, 500 Purchases 49, 500 80 , 500 Freight-in 3, 000 Purchase returns 2, 200 3, 100 Net markups 3, 600 Net markdowns 5, 100 Net sales 71, 100 Employee discounts 1, 200 To the nearest thousand, the estimated ending inventory at cost is (round cost-to-retail ratio to whole percentage): Multiple Choice $18,000