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, 2013:

	Cost			Retail
Beginning inventory	$	500,000		$	630,000
Net purchases		960,000			1,410,000
Freight-in		51,100
Net markups					68,000
Net markdowns					38,000
Net sales					1,300,000

Estimate ending inventory and cost of goods sold (average cost).