Sparrow Company uses the retall 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 $ 95,988 $185,908 359,988 585,998 9,598 7,508 11,5ee 16,5e0 12,5ee 3,580 8,58e 545,99e 1e,5e0 4,354 The company records sales net of employee discounts. Discounts for 2018 totaled $4,500. Requlrec 1. Estimate Sparrow's ending Inventory and cost of goods sold for the year using the retall Inventory method and the average cost application. 2. Estimate Sparrow's ending Inventory and cost of goods sold for the year using the retall Inventory method and the conventional application. (For all requirements, round Cost-to-retall percentege to two declmal places and final answers to whole dollars.) Answer is not complete Conventional application licati Estimated ending inventory at retail Estimated ending inventory at cost Estimated cost of goods sold 211.500 126,689 324,976 s 342.076 S