Almaden Valley Variety Store uses the retail inventory method to estimate ending inventory and cost of goods sold. Data for 2016 are as follows:

CostRetailBeginning inventory$18,000$26,000Purchases108,600171,000Freight-in1,920Purchase returns7,00010,000Net markups9,000Net markdowns6,000Normal spoilage4,800Net sales158,000

Required:Complete the table below to estimate the ending inventory and cost of goods sold for 2016, applying the conventional retail method.