[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 2021 are as follows:

	Cost			Retail
Beginning inventory	$	84,000		$	174,000
Purchases		370,000			574,000
Freight-in		8,400
Purchase returns		6,400			10,400
Net markups					15,400
Net markdowns					11,400
Normal spoilage					2,400
Abnormal spoilage		4,467			7,400
Sales					534,000
Sales returns					9,400

The company records sales net of employee discounts. Employee discounts for 2021 totaled $3,400.

Required: 1. Estimate Sparrows 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.)

	Average cost application
Estimated ending inventory at retail
Estimated ending inventory at cost
Estimated cost of goods sold