please show work

2) Sparrow Company uses the retail inventory method (average cost) to estimate ending inventory and cost of goods sold. Data for 2018 are as follows: Cost Retail Beginning Inventory $ 90,000 $ 180,000 Purchases $ 355,000 $ 580,000 Freight-In $ 9,000 Purchase Returns $ 7,000 $ 11,000 Net Markups $ 16,000 Net Markdowns $ 12,000 Sales $ 540,000 Required: Estimate Sparrow's ending inventory and cost of goods sold for the year using the Average Cost Retail Inventory Method