Estimate the 2021 ending inventory and cost of goods sold using the conventional retail method.

Required Information [The following information applies to the questions displayed below) On January 1, 2021, Pet Friendly Stores adopted the retail Inventory method, Inventory transactions at both cost a and cost Indexes for 2021 and 2022 are as follows: 2022 dost Retail 2024 cost Retail $143,500 $ 205,000 500 000 772 000 4000 4150 4.680 $680) ce $856000 Beg 6775 5 ege 10 de 2100 Beginning inventory Purchases Purchase returns Freight-in Net markups Net markdowns Net sales to customers Sales to employees (net of 25% discount) Normal spoilage Price Index: January 1, 2021 December 31, 2021 December 31, 2022 6.450 4.300 $59, cel 39eep 36e9 704 00 3eee 6,00 es 1.25 1.25 Regulred: 3. Estimate the 2021 ending inventory and cost of goods sold using the conventional retall method. (Round your cost-to- percentage to 2 decimal places and round your final answers to nearest whole dollar) Conventional Retall Method Estimated ending inventory at retail Estimated ending inventory at cost Estimated cost of goods sold