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

	Cost	Retail
Beginning inventory	$ 220,000	$ 283,000
Purchases	588,000	864,000
Freight-in	11,000
Net markups		23,000
Net markdowns		4,300
Net sales		830,000

Required:

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

beg inv	220000	283000
purchases	588000	864000
freight-in	11000	?
net markups	?	23000
net markdowns		-4300
goods available for sale
cost to retail %			?
net sales		-830000
estimated ending inventory at retail

estimated ending inventory at cost	??
estimated cost of goods sold	??