Roberson Corporation uses a periodic inventory system and the retail inventory method. Accounting records provided the following information for the 2021 fiscal year:

The company records sales to employees net of discounts. These discounts totaled $15,000 for the year. Estimate ending inventory and cost of goods sold using the conventional method and the information provided.

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Retail Cost Beginning inventory Net purchases Freight-in Net markups Net markdowns Normal spoilage Sales $ 400,000 $220,000 640,000 1,180,000 17,800 16,000 6,000 3,000 1,300,000