! Required information Problem 9-13 (Algo) Retail inventory method; various applications [LO9-3, 9-4, 9-5] [The following information applies to the questions displayed below.] On January 1, 2021, Pet Friendly Stores adopted the retail inventory method. Inventory transactions at both cost and retail, and cost indexes for 2021 and 2022 are as follows: Beginning inventory Purchases Purchase returns Freight-in Net markups Net markdowns Net sales to customers Sales to employees (net of 30% discount) Price Index: Normal spoilage January 1, 2021 December 31, 2021 December 31, 2022 2021 2022 Cost Retail Cost Retail $111,600 $180,000 488,000 685,000 $640,000 $808,000 3, 100 4,000 2,800 6, 400 6,500 6,000 5,650 9,000 4, 150 6,600 525,000 645,000 14,000 1,600 14,000 2, 300 1.00 1.20 1.25 Problem 9-13 (Algo) Part 1 Required: 1. Estimate the 2021 and 2022 ending inventory and cost of goods sold using the dollar-value LIFO retail method. Estimated ending inventory at retail Estimated ending inventory at cost Estimated cost of goods sold 2021 2022