Required information Skip to question [The following information applies to the questions displayed below.] 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 $ 99,000 $ 189,000 Purchases 359,000 589,000 Freight-in 9,900 Purchase returns 7,900 11,900 Net markups 16,900 Net markdowns 12,900 Normal spoilage 3,900 Abnormal spoilage 5,183 8,900 Sales 549,000 Sales returns 10,900 The company records sales net of employee discounts. Employee discounts for 2021 totaled $4,900. Required: 2. Estimate Sparrow's 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.)