3 Required information 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: 2021 2022 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 5,960 8,000 Net markups 8,500 10,000 Net markdowns 4,000 6,000 Net sales to customers Sales to employees inet of 30 discount) 650,000 600,000 14,000 17,500 Normal spollage 5,600 Price Index: 6,600 January 1, 2021 1.00 December 31, 2021 1.03 December 31, 2022 1.06 OR ences Required: 2. Estimate the 2021 ending inventory and cost of goods sold using the average cost retail method. (Round your cost-to-retail percentage to 2 decimal places and round your final answers to nearest whole dollar) Average Cost Retail Method Estimated ending inventory at real Estimated ending inventory at cost Estimated cost of goods sold