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	$	83,000		$	173,000
Purchases		368,000			573,000
Freight-in		8,300
Purchase returns		6,300			10,300
Net markups					15,300
Net markdowns					11,300
Normal spoilage					2,300
Abnormal spoilage		4,405			7,300
Sales					533,000
Sales returns					9,300

The company records sales net of employee discounts. Discounts for 2018 totaled $3,300. 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.