Problem $9-6($Algo$)$ Retail inventory method; average cost and conventional $[$LO$9-3,9-4]$

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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 $ $89,000$ $ $179,000$

Purchases $352,000579,000$

Freight$-$in $8,900$

Purchase returns $6,90010,900$

Net markups $15,900$

Net markdowns $11,900$

Normal spoilage $2,900$

Abnormal spoilage $4,5127,900$

Sales $539,000$

Sales returns $9,900$

The company records sales net of employee discounts. Employee discounts for $2021$ totaled $$3,900.$

Problem $9-6($Algo$)$ Part $2$

Required:

$2.$ Estimate Sparrow$$s ending inventory and cost of goods sold for the year using the retail inventory method and the conventional application. $($Round Cost$-$to$-$retail percentage to $2$ decimal places and final answers to the nearest whole dollar amount.$)$