[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: Beginning inventory Purchases Freight-in Purchase returns Net markups Cost $ 81,000 375,000 8,100 6,100 Retail $ 171,000 571,000 10,100 15,100 Net markdowns Normal spoilage Abnormal spoilage Sales 11,100. 2,100 4,322 7,100 531,000 9,100 Sales returns The company records sales net of employee discounts. Employee discounts for 2024 totaled $3,100. 2. Estimate Sparrow's ending inventory and cost of goods sold for the year using the retail inventory method and the conventional application. Note: Round Cost-to-retail percentage to 2 decimal places and final answers to the nearest whole dollar amount. Answer is complete but not entirely correct. Conventional application Estimated ending inventory at retail $ 201,700 Estimated ending inventory at cost $ 125,558 x Estimated cost of goods sold S 328,120