Sparrow Company uses the retail inventory method to estimate ending inventory and cost of goods sold. Data for 2018 are as follows:

	Cost			Retail
Beginning inventory	$	94,000		$	184,000
Purchases		364,000			584,000
Freight-in		9,400
Purchase returns		7,400			11,400
Net markups					16,400
Net markdowns					12,400
Normal spoilage					3,400
Abnormal spoilage		4,919			8,400
Sales					544,000
Sales returns					10,400

The company records sales net of employee discounts. Discounts for 2018 totaled $4,400. Required: 1. Estimate Sparrows ending inventory and cost of goods sold for the year using the retail inventory method and the average cost application. 2. Estimate Sparrows ending inventory and cost of goods sold for the year using the retail inventory method and the conventional application.