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 2018:

		Cost		Retail
Beginning inventory	$	53,000	$	73,000
Purchases		220,000		413,000
Freight-in		14,068
Purchase returns		6,000		8,500
Net markups				7,100
Net markdowns				4,800
Normal breakage				8,500
Net sales				293,000
Employee discounts				1,500

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. 2. Recompute the cost-to-retail percentage using the average cost method.