Estimate Sparrow$$s ending inventory and cost of goods sold for the year using the retail inventory method and the average cost application.

Note: Round Cost$-$to$-$retail percentage to $2$ decimal places and final answers to the nearest whole dollar amount.Problem $9-6($Static$)$ Retail inventory method; average cost and conventional $[$LO$9-3,9-4]$

$[$The following information applies to the questions displayed below.$]$

Sparrow Company uses the retail inventory method to estimate ending inventory and cost of goods sold. Data for $2024$

are as follows:

The company records sales net of employee discounts. Employee discounts for $2024$ totaled $$4,000.$

Problem $9-6($Static$)$ Part $1$

Required:

Estimate Sparrow's ending inventory and cost of goods sold for the year using the retail inventory method and the average cost

application.

Note: Round Cost$-$to$-$retail percentage to $2$ decimal places and final answers to the nearest whole dollar amount.