Sparrow Company uses the retall inventory method to estimate ending inventory and cost of goods sold Data for 2021 are as follows The company records sales net of employee ciscounts. Employee discounts for 2021 totaled $3,600. Problem 9-6 (Algo) Part 1 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. (Round Cost-to-retoll percentage to 2 decimal ploces ond final antwers to the nearest whole dollor amount.) Sparrow Company uses the retail inventory method to estimate ending inventory and cost of goods sold. Data for 2021 are as follows: The company records sales net ot employee discounts. Employee discounts for 2021 totaled $3,600. Problem 9.6 (Algo) Part 2 Requlred: 2. Estimate Sparrow's ending inventory and cost of goods sold for the year using the retail inventory method and the conventionai appilcation. (Round Cost-to-retall percentage to 2 decimal piaces and final answers to the nearest whole dollar omount.)