Check m 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: Beginning Inventory Purchases Purchase returns Freight-in Net markups Net markdowns Net sales to customers Soles to employees (net of 30% discount) Normal spoilage Price Index: January 1, 2021 December 31, 2021 December 31, 2022 2021 Cost Retail $156,000 $240,000 510,000 752,000 6,200 3.650 6,200 6,250 4,600 500,000 21,000 6,200 2822 Cost Retail 5725,000 $1,123,000 4,000 1,600 7.000 11.40 7.500 738,00 21.000 3.00 1.00 1.25 Required: 3. Estimate the 2021 ending inventory and cost of goods sold using the conventional retail method (Round your cost-to-retai percentage to 2 decimal places and round your final answers to nearest whole dollar.) Conventional Retail Method Estimated ending inventory at retail Estimated ending inventory at cost Estimated cost of goods sold