Pathway Outfitters is a retailer of outdoor clothing and equipment. The company has a standard mark-up of 100% on invoiced cost. Inventory at the beginning of the fiscal year was $1,220,000. During the year, the company purchased $10,300,000 of goods and recorded sales of $25,000,000. The year-end inventory count showed $3,115,000 of inventory measured at actual retail prices Included in this total of $3,115,000 is $490,000 of goods that had been discounted by 30% relative to regular prices Requirement Using the retail inventory method. estimate the cost of inventory at the year-end and the amount of cost of goods sold Requirement. Using the retail inventory method, estimate the cost of inventory at the year-end and the amount of cost of goods sold Begin by completing the table below to determine the estimated cost of inventory at year end. (Leave unused cells blank. Round the cost as % of retail price to four decimal places. XXXXXXX% Round the ostimated cost to the nearest whole dollar) Product category Mark-up (% on cost) Regular 100 % Mark-down 1% of regular price) 1% Retail price per dollar Cost as % of cost of retail price Retail value of inventory Estimated cost Discounted 00%