James store uses the retail inventory method to estimate ending inventory and cost of goods sold. Data for the year 2016 is as follows: beginning inventory $180,000 (cost) 300,000 (retail); purchase 1,479,000 (cost) 2,430,000 (retail); fright-in 30,000; net markups 90,000; net markdowns 45,000; net sales 2,340,000. Estimate the ending inventory and cost of goods sold for 2016, apple the conventional retail method (avg, LCM)