Sparrow Company uses the retail inventory method to estimate ending inventory and cost of goods sold. Data for 2024 are as follows: The company records sales net of employee discounts. Employee discounts for 2024 totaled \$3,500. oblem 9-6 (Algo) Part 1 quired: stimate Sparrow's ending inventory and cost of goods sold for the year using the retail inventory method and the average cost olication. te: Round Cost-to-retail percentage to 2 decimal places and final answers to the nearest whole dollar amount. 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