! Required information (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 $152,750 $235,000 537,000 770,000 5,000 3,150 6,300 6,750 4,600 600,000 22,500 4,000 $ 700,000 $879,000 3,900 3,625 7,000 11,200 7,700 716,000 22,500 6,600 1.00 1.25 1.25 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