The records of Diskount Department Stores Inc. provided the following data for 20x5: $ 600,000 Sales (gross) Sales returns Additional markups Additional markup cancellations Markdowns Purchases: At retail 1,500 7,000 4,000 5,000 650,000 350,000 At cost Purchase returns: At retail At cost Freight on purchases Beginning inventory: At retail At cost Markdown cancellations 3,000 1,200 3,200 60,000 35,000 1,700 1. Estimate the valuation of the ending inventory and cost of goods sold using the gross margin method. Last year's gross margin percentage was 51%. Answer is complete and correct. Estimated cost of ending inventory Estimated cost of goods sold $ 93,735 $ 293,265 2. Estimate the valuation of the ending inventory and cost of goods sold using the retail sales method, which approximates lower-of-cost-or-NRV valuation. (Round "Cost ratio" to the nearest whole percentage.) Answer is complete but not entirely correct. $ 63,811 Estimated cost of ending inventory Estimated cost of goods sold $ 108,500