Raleigh Department Store uses the conventional retail method for the year ended December 31, 2019. Available information follows: The inventory at January 1, 2019, had a retail value of $41,000 and a cost of $32,170 based on the conventional retail method. Transactions during 2019 were as follows: Cost Retail Gross purchases $ 224,310 $ 450,000 Purchase returns 6,100 24,000 Purchase discounts 4,600 Gross sales 408,500 Sales returns 5,000 Employee discounts 5,500 Freight-in 27,500 Net markups 21,000 Net markdowns 24,000

Sales to employees are recorded net of discounts.

The retail value of the December 31, 2017, inventory was $78,225, the cost-to-retail percentage for 2017 under the LIFO retail method was 72%, and the appropriate price index was 105% of the January 1, 2017, price level.

The retail value of the December 31, 2018, inventory was $54,540, the cost-to-retail percentage for 2018 under the LIFO retail method was 71%, and the appropriate price index was 108% of the January 1, 2017, price level.

Required:
1. Estimate ending inventory for 2019 using the conventional retail method.
2. Estimate ending inventory for 2019 assuming Raleigh Department Store used the LIFO retail method.
3. Assume Raleigh Department Store adopts the dollar-value LIFO retail method on January 1, 2020. Estimating ending inventory for 2020 and 2021.