$[$The following information applies to the questions displayed below.$]$

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 $$3,100.$

Problem $9-6($Algo$)$ Part $1$

Required:

Estimate Sparrow's ending inventory and cost of goods sold for the year using the retail inventory method and the average cost

application.

Note: Round Cost$-$to$-$retall percentage to $2$ decimal places and final answers to the nearest whole dollar amount.