On January 1, 2018, HGC Camera Store adopted the dollar-value LIFO retail inventory method. Inventory transactions at both cost and retail, and cost indexes for 2018 and 2019 are as follows:    2018 2019   Cost Retail Cost Retail Beginning inventory $ 42,000   $ 60,000               Net purchases   94,500     118,000   $ 108,108   $ 133,200   Freight-in   3,000           3,500         Net markups         15,000           10,000   Net markdowns         3,000           3,200   Net sales to customers         117,360           119,890   Sales to employees (net of 10% discount)         3,600           6,300   Price Index:                         January 1, 2018                     1.00   December 31, 2018                     1.04   December 31, 2019                     1.09      Required:Estimate the 2018 and 2019 ending inventory and cost of goods sold using the dollar-value LIFO retail inventory method. I keep getting the following and do not understand why is marked wrong   Cost Retail   Cost Retail   Beginning Inv. 42000 60000 70% 43578 64504   Purchases 94500 118000   108,108 133,200   Freight in 3000 0   3,500 0     0 0   0 0   Net Markup 0 15000   0 10,000   Net Markdown 0 -3000   0 -3200     0 0   0 0   excluding beg. 97500 130000 75% 111,608 140,000 80% goods available 139500 190000   155,186 204,504                   0 0   0 0   Net Sales    -125496     -126190   Ending inventory 43578 64504   52145.08 78,314

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Chapter1: Financial Statements And Business Decisions
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On January 1, 2018, HGC Camera Store adopted the dollar-value LIFO retail inventory method. Inventory transactions at both cost and retail, and cost indexes for 2018 and 2019 are as follows:
 

  2018 2019
  Cost Retail Cost Retail
Beginning inventory $ 42,000   $ 60,000              
Net purchases   94,500     118,000   $ 108,108   $ 133,200  
Freight-in   3,000           3,500        
Net markups         15,000           10,000  
Net markdowns         3,000           3,200  
Net sales to customers         117,360           119,890  
Sales to employees (net of 10% discount)         3,600           6,300  
Price Index:                        
January 1, 2018                     1.00  
December 31, 2018                     1.04  
December 31, 2019                     1.09  
 

 
Required:
Estimate the 2018 and 2019 ending inventory and cost of goods sold using the dollar-value LIFO retail inventory method.

I keep getting the following and do not understand why is marked wrong

  Cost Retail   Cost Retail  
Beginning Inv. 42000 60000 70% 43578 64504  
Purchases 94500 118000   108,108 133,200  
Freight in 3000 0   3,500 0  
  0 0   0 0  
Net Markup 0 15000   0 10,000  
Net Markdown 0 -3000   0 -3200  
  0 0   0 0  
excluding beg. 97500 130000 75% 111,608 140,000 80%
goods available 139500 190000   155,186 204,504  
             
  0 0   0 0  
Net Sales    -125496     -126190  
Ending inventory 43578 64504   52145.08 78,314  

 

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