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

$\backslash$table$[[,$Cost,Retail$],[$Beginning inventory,$$\mathrm{.}280,000,$$$289,000],[$Purchases$,687,000,912,000],[$Freight$-$in$,17,000,],[$Net markups,,$29,000],[$Net markdowns,,$4,900],[$Net sales,,$890,000]]$

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.

$\backslash$table$[[$Beginning inventory,Cost,Retail,$\backslash$table$[[$Cost$-$to$-$Retail$],[$Ratio$]]],[$$$,280,000,$$$,289,000,],[$Purchases$,,687,000,,912,000,],[$Freight$-$in$,,17,000,,,],[$Net markups,,,,$29,000,],[45,,,,1,230,000,],[$Net markdowns,,,$,,],[$Goods available for sale,,$984,000,,1,230,000,],[$Cost$-$to$-$retail percentage,,,Lo$,,$T$],[$Net sales,,,,,$],[$Estimated ending inventory at retail,,,$$,1,230,000,],[$Estimated ending inventory at cost$,$E$,,,,],[$Estimated cost of goods sold,$5,,,,]]$