Required information [The following information applies to the questions displayed below.] On January 1, 2024, Pet Friendly Stores adopted the retail inventory method. Inventory transactions at both cost and retail, and cost indexes for 2024 and 2025 are as follows: Beginning inventory Purchases Purchase returns Freight-in Net markups Net markdowns Net sales to customers Sales to employees (net of 30% discount) Normal spoilage Price Index: January 1, 2024 December 31, 2024 December 31, 2025 2024 2025 Cost Retail Cost Retail $ 90,000 $ 150,000 478,000 2,500 6,960 730,000 3,500 $ 511,000 2,200 8,000 $ 760,000 4,000 8,500 10,000 4,000 6,000 650,000 14,000 5,000 1.00 1.03 1.06 680,000 17,500 6,600 Required: 3. Estimate the 2024 ending inventory and cost of goods sold using the conventional retail method. Note: Round your cost-to-retail percentage to 2 decimal places and round your final answers to nearest whole dollar. Estimated ending inventory at retail Estimated ending inventory at cost Estimated cost of goods sold Conventional Retail Method