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 $222,000400,000$

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.