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Company A is a retailer of outdoor clothing and equipment. The company has a standard markup of 100% on invoiced cost. Inventory at the beginning of the fiscal year was 1, 790, 000. Duringtheyear, thecompanypurchased 13,700,000 of goods and recorded sales of 25,780,000.Theyear endinventorycountshowed3,380,000 of inventory measured at actual retail prices. Included in this total of 3, 380,000i s520,000 of goods that had been discounted by 30% relative to regular prices. Required (10 marks): Using the retail inventory method. estimate the cost of inventory at year-end and the amount of cost of goods sold