On January 1, 2011, Pet Friendly Stores adopted the retail inventory method. Inventory transactions at both cost and retail, and cost indexes for 2011 and 2012 are as follows:

2011 2012
Cost Retail Cost Retail
Beginning inventory $ 90,000 $ 150,000
Purchases 478,000 730,000 511,000 760,000
Purchase returns 2,500 3,500 2,200 4,000
Freight-in 6,960 8,000
Net markups 8,500 10,000
Net markdowns 4,000 6,000
Net sales to customers 650,000 680,000
Sales to employees (net of 30% discount) 14,000 17,500
Normal spoilage 5,000 6,600
Price Index:
January 1, 2011 1.00
December 31, 2011 1.03
December 31, 2012 1.06

Required:
(1)

Estimate the 2011 and 2012 ending inventory and cost of goods sold using the dollar-value LIFO retail method. (Round the cost-to-retail percentage to 2 decimal places (e.g. 12.34%) for calculation purposes. Round your answers to the nearest dollar amount. Omit the "$" sign in your response.)

2011 2012
Estimated ending inventory at cost $ $
Estimated cost of goods sold $ $