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	$	89,000		$	179,000
Purchases		352,000			579,000
Freight-in		8,900
Purchase returns		6,900			10,900
Net markups					15,900
Net markdowns					11,900
Normal spoilage					2,900
Abnormal spoilage		4,512			7,900
Sales					539,000
Sales returns					9,900

The company records sales net of employee discounts. Discounts for 2018 totaled $3,900. 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.