Phillips Supply uses a periodic inventory system but needs to determine the approximate amount of inventory at the end of each month without taking a physical inventory. Phillips has provided the following inventory data: Cost Price Retail Selling Price Inventory of merchandise, June 30 $ 300,000 $ 500,000 Purchases during July 222,000 400,000 Goods available for sale during July $ 522,000 $ 900,000 Net sales during July ??????? $ 600,000 a. Estimate the cost of goods sold and the cost of the July 31 ending inventory using the retail method of evaluation. (Omit the "$" sign in your response.) Estimated cost of goods sold $ _________??? Estimated ending inventory $ _________???