Sparrow Company uses the retail inventory method to estimate ending inventory and cost of goods sold. Data for 2024 are as follows: Cost Retail Beginning Inventory $ 82,000 $ 1/2,000 Purchases 373,000 5/2,000 Freight-in 8,200 Purchase returns 6.200 10,200 Net markups 15.200 Net markdowns 11.200 Normal spoilage 2,200 Abnormal spoilage 4.078 7.200 Soles 532,000 Sales returns 9.200 The company records sales net of employee discounts. Employee discounts for 2024 totaled $3,200. m Award: 10.00 points 2. Estimate Sparrow's ending inventory and cost of goods sold for the year using the retail inventory method and the conventional application. Note: Round Cost-to-retail percentage to 2 decimal places and final answers to the nearest whole dollar amount. Conventional application Estimated ending inventory at retail Estimated ending inventory at cost Estimated cost of goods sold