Sparrow Company uses the retail inventory method to estimate ending inventory and cost of goods sold. Data for 2016 are as follows:

The Estimated ratail is correct and I got the goods availalbe for sale cost: 460,852; retail: 772K. ) cost to retail percentage is 59.695%, I think I did it right, but the system said the estimated cost wrong, please advise.

Company uses the retail inventory method to estimate ending inventory and cost of goods sold. Sparrow Data for 2016 are as follows Retail Cost 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 6,148 Abnormal spoilage 9,000 Sales 550.000 Sales returns 11,000 The company records sales net of employee discounts. Discounts for 2016 totaled $5,000. Required 1. Estimate Sparrow's ending inventory and cost of goods sold for the year using the retail inventory method and the average cost application. (Round your cost-to-retail percentage calculation to 2 decimal places.) Estimated ending inventory at retail 215.000 Estimated ending inventory at cost 128.344 Estimated cost of goods sold 2. Estimate Sparrows ending inventory and cost of goods sold for the year using the retail inventory method and the conventional application. (Round your cost-to-retail percentage calculation to 2 decimal places.) Estimated ending inventory at retail Estimated ending inventory at cost Estimated cost of goods sold