Colonial Corporation uses the retail method to value its inventory. The following information is available for the year:

	Cost	Retail
Beginning inventory	$ 330,000	$ 294,000
Purchases	608,000	952,000
Freight-in	22,000
Net markups		34,000
Net markdowns		5,400
Net sales		940,000

Required:

Determine ending inventory and cost of goods sold by applying the conventional retail method using the information provided.

Note: Round ratio calculation to 2 decimal places (i.e., 0.1234 should be entered as 12.34%.). Enter amounts to be deducted with a minus sign.