A company uses the retail method to value its inventory. The following information is available for the year:

Cost Retail

Beginning inventory $ $370,000$ $ $298,000$

Purchases $726,000984,000$

Freight$-$in $26,000$

Net markups $38,000$

Net markdowns $5,800$

Net sales $980,000$

Required:

Determine ending inventory and cost of goods sold by applying the conventional retail method using the information provided.

Note: Round ratio calculation to $2$ decimal places $($i$.$e$.,0\mathrm{.}1234$ should be entered as $12\mathrm{.}34\%.).$ Enter amounts to be deducted with a minus sign.