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Sparrow Company uses the retail inventory method to estimate ending inventory and cost of goods sold. Data for 2021 are as follows:

	cost	retail
beginning inventory	100,000	190,000
purchases	365,000	590,000
freight-in	10,000
purchase returns	8,000	12,000
net markups		17,000
net markdowns		13,000
normal spoilage		4,000
abnormal spoilage	6,148	9,000
sales		550,000
sales returns		11,000

The company records sales net of employee discounts. Employee discounts for 2021 totaled $5,000.

Required: 2. Estimate Sparrows ending inventory and cost of goods sold for the year using the retail inventory method and the conventional application. (Round Cost-to-retail percentage to 2 decimal places and final answers to the nearest whole dollar amount.)