On January 1, 2021, Pet Friendly Stores adopted the retail inventory method. Inventory transactions at both cost and retail, and cost indexes for 2021 and 2022 are as follows: 2021 2022 Cost Retail Cost Retail Beginning inventory $ 111,600 $ 180,000 Purchases 488,000 685,000 $ 640,000 $ 808,000 Purchase returns 3,100 4,000 2,800 6,400 Freight-in 6,500 6,000 Net markups 5,650 9,000 Net markdowns 4,150 6,600 Net sales to customers 525,000 645,000 Sales to employees (net of 30% discount) 14,000 14,000 Normal spoilage 1,600 2,300 Price Index: January 1, 2021 1.00 December 31, 2021 1.20 December 31, 2022 1.25

Problem 9-13 (Algo) Part 2 Required: 2. Estimate the 2021 ending inventory and cost of goods sold using the average cost retail method. (Round your cost-to-retail percentage to 2 decimal places and round your final answers to nearest whole dollar.) Average Cost Retail Method Estimated ending inventory at retail Estimated ending inventory at cost Estimated cost of goods sold