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 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.)

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