Sparrow Company uses the retail inventory method to estimate ending inventory and cost of goods sold. Data for 2021 are as follows: Beginning inventory Purchases Freight-in Purchase returns Net markups Net markdowns Normal spoilage Abnormal spoilage Sales Sales returns Cost $90,000 Retail $180,000 355,000 580,000 9,000 7,000 11,000 16,000 12,000 3,000 4,800 8,000 540,000 10,000 The company records sales net of employee discounts. Employee discounts for 2021 totaled $4,000. 2. Estimate Sparrow's ending inventory and cost of goods sold for the year using the retail inventory method and the conventional application. (Round Cost-to-retail percentage to 2 decimal places and final answers to the nearest whole dollar amount.) Estimated ending inventory at retail Estimated ending inventory at cost Estimated cost of goods sold Conventional application