Kiddie World uses a periodic inventory system and the retail inventory method to estimate ending inventory and cost of goods sold. The following data are available for the quarter ending September 30, 2021 Cost Retail Beginning inventory $300,000 $ 450,000 Net purchases 861,000 1,210,000 Freight-in 22,000 Net markups 48,000 Net markdowns 18,000 Net sales 1,200,000 Estimate ending inventory and cost of goods sold (average cost) using the information provided