Required information Problem 9-13 (Algo) Retail inventory method; various applications [LO9-3, 9-4, 9-5] [The following information applies to the questions displayed below.] On January 1, 2021, Pet Friendly Stores adopted the retail inventory method. Inventory transactions at both cost and retail, and cost indexes for 2021 and 2022 are as follows: 2022 Cost Retail Beginning inventory Purchases Purchase returns Freight-in Net markups Net markdowns Net sales to customers Sales to employees (net of 25% discount) Normal spoilage Price Index: January 1, 2021 December 31, 2021 December 31, 2022 2021 Cost Retail $ 96,000 $160,000 520,000 803,000 2,700 3,000 4,000 6,000 4,000 670,000 12,000 3,000 $ 600,000 $950,000 2,400 5,750 8,000 8,200 6,200 680,000 12,000 4,000 1.00 1.25 1.25 Problem 9-13 (Algo) Part 3 Required: 3. Estimate the 2021 ending inventory and cost of goods sold using the conventional retail method. (Round your cost-to-retail percentage to 2 decimal places and round your final answers to nearest whole dollar.) Conventional Retail Method Estimated ending inventory at retail Estimated ending inventory at cost Estimated cost of goods sold