Robotics Corporation uses a periodic inventory system and the retail inventory method. Accounting records provided the following information for the 2024 fiscal year:" Beginning inventory Net purchases Freight-in Net markups Net markdowns Normal spoilage Sales Cost $ 255,000 656,000 28,400 Beginning inventory Plus: Purchases Freight-in Net markups Goods available for sale Less: Net markdowns The company records sales to employees net of discounts. These discounts totaled $22,000 for the year. Estimate ending inventory and cost of goods sold using the conventional method. Note: Round ratio calculation to 2 decimal places (i.e., 0.1234 should be entered as 12.34%.)

Robotics Corporation uses a periodic inventory system and the retail inventory method. Accounting records provided the following information for the 2024 fiscal year: The company records sales to employees net of discounts. These discounts totaled $22,000 for the year. Estimate ending inventory and cost of goods sold using the conventional method. Note: Round ratio calculation to 2 decimal places (i.e., 0.1234 should be entered as 12.34%.)