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	$	81,000		$	171,000
Purchases		375,000			571,000
Freight-in		8,100
Purchase returns		6,100			10,100
Net markups					15,100
Net markdowns					11,100
Normal spoilage					2,100
Abnormal spoilage		4,322			7,100
Sales					531,000
Sales returns					9,100

The company records sales net of employee discounts. Discounts for 2018 totaled $3,100. 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. (For all requirements, round Cost-to-retail percentage to two decimal places and final answers to whole dollars.)