Please explain how the answers are calculated.

Robotics Corporation uses a periodic inventory system and the retail inventory method. Accounting records provided the following information for the 2024 fiscal year:

	Cost	Retail
Beginning inventory	$ 265,000	$ 490,000
Net purchases	666,000	1,225,000
Freight-in	26,000
Net markups		25,000
Net markdowns		6,000
Normal spoilage		3,000
Sales		1,390,000

The company records sales to employees net of discounts. These discounts totaled $24,000 for the year.

Estimate ending inventory and cost of goods sold using the conventional method.

Note: Round ratio calculation to 2 decimal places (i.e., 0.1234 should be entered as 12.34%.)