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:

CostRetailBeginning inventory$390,000$525,000Net purchases900,0001,300,000Freight-in27,050Net markups57,000Net markdowns27,000Net sales1,245,000

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