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 discounts. Employee discounts for 2021 totaled $3,100. 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-retail percentage to 2 decimal places and final answers to the nearest whole dollar amount.)