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: 2822 Cost Retail Beginning inventory Purchases Purchase returns Freight-in Net markups Net markdowns Net sales to customers Sales to employees (net of 25% discount) Norsal tpostage Price Index: January 1, 2021 December 31, 2021 December 31, 2022 2021 Cost Retail $143,500 $205,000 600.000 272.000 4,000 4,150 4,600 6,45e 4,300 350,000 30,000 3,608 $680,000 $856,000 3,380 6,775 5,000 10,000 7100 784,000 3,880 6,000 1.00 1.25 1.25 Problem 9-13 (Algo) Part 3 Required: 3. Estimate the 2021 ending Inventory and cost of goods sold using the conventional retall method (Round your cost-to-retall percentage to 2 decimal places and round your final answers to nearest whole dollar) Conventional Retail Method Estimated ending inventory at retail Estimated ending inventory at cost Estimated cost of goods sold