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 Purchases Freight-in Purchase returns Net markups Net markdowns Normal spoilage Abnormal spoilage Sales Sales returns 99,000 $189,000 359,000 589,000 9,900 7,900 11,900 16,900 12,900 3,900 8,900 549,000 10,900 5,183 The company records sales net of employee discounts. Discounts for 2018 totaled $4,900. t Required: 1. Estimate Sparrow's ending inventory and cost of goods sold for the year using the retail inventory method and the average cost application. 2. Estimate Sparrow's ending inventory and cost of goods sold for the year using the retail inventory method and the conventional application. whole dollars.) (For all requirements, round Cost-to-retail percentage to two decimal places and final answers to Average cost Conventional application application Estimated ending inventory at retail Estimated ending inventory at cost Estimated cost of goods sold