Check my work 13 Cost Retail Beginning inventory Purchases Freight-in Purchase returns Net markups Net markdowns Normal spoilage Abnormal spoilage Sales Sales returns $89,000 $179,000 352,000 579,000 8,900 6,900 10,900 15,900 11,900 2,900 7,900 539,000 9,900 0.35 points 4,512 eBook Print References The company records sales net of employee discounts. Discounts for 2018 totaled $3,900 Required 1. Estimate Sparrow's ending inventory and cost of goods sold for the year using the retail inventory method and the average cost application. 2. Estimate Sparrow's ending inventory and cost of goods sold for the year using the retail inventory method and the conventional application. (For all requirements, round Cost-to-retail percentage to two decimal places and final answers to whole dollars.) Average cost Conventional lication application Estimated ending inventory at retail Estimated ending inventory at cost Estimated cost of goods sold