LeMay Department Store uses the retail inventory method to estimate ending inventory for its monthly financial statements. The following data pertain to one of its largest departments for the month of March 2016:

CostRetailBeginning inventory$41,000$61,000Purchases208,000401,000Freight-in9,270Purchase returns4,5006,500Net markups5,900Net markdowns3,600Normal breakage6,500Net sales281,000Employee discounts1,900

Sales are recorded net of employee discounts.

Required:1.Compute estimated ending inventory and cost of goods sold for March applying the conventional retail method.