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Sparrow Company uses the retail inventory method to estimate ending inventory and cost of goods sold. Data for 2016 are as follows: Cost Retail Beginning inventory $ 96,000 $186,000 Purchases 361,000586,000 Freight-in 9,600 Purchase returns Net markups Net markdowns Normal spoilage Abnormal spoilage5,520 Sales Sales returns 7,60011,600 16,600 12,600 3,600 8,600 5,520 546,000 10,600 The company records sales net of employee discounts. Discounts for 2016 totaled $4,600 Required 1. Estimate Sparrow' 1, Est s ending inventory and cost of goods sold for the year using the retail inventory method and the average cost application, (Round your cost-to-retail p decimal places.) i ercentage calculation to 2 Estimated ending inventory at retail Estimated ending inventory at cost Estimated cost of goods sold