Almaden Valley Variety Store uses the retail inventory method to estimate ending inventory and cost of goods sold. Data for 2021 are as follows:

Almaden Valley Variety Store uses the retail inventory method to estimate ending inventory and cost of goods sold. Data for 2021 are as follows:

	Cost			Retail
Beginning inventory	$	22,000		$	30,000
Purchases		112,600			175,000
Freight-in		2,500
Purchase returns		4,500			12,000
Net markups					11,000
Net markdowns					8,000
Normal spoilage					5,200
Net sales					162,000

Required: Complete the table below to estimate the ending inventory and cost of goods sold for 2021, applying the conventional retail method using the information provided.