Problem 9-4 Retail inventory method; various cost methods [LO9-3, 9-4] Sparrow Company uses the retail inventory method to estimate ending inventory and cost of goods sold. Data for 2016 are as follows: Cost Retail $ 91,000 356,000 9,100 7,100 $181,000 581,000 Beginning inventory Purchases Freight-in Purchase returns Net markups Net markdowns Normal spoilage Abnormal spoilage Sales Sales returns 11,100 16,100 12,100 3,100 8,100 541,000 10,100 4,654 The company records sales net of employee discounts. Discounts for 2016 totaled $4,100 Required: 1. Estimate Sparrow's ending inventory and cost of goods sold for the year using the retail inventory method and the average cost application. (Round your cost-to-retail percentage calculation to 2 decimal places.) Estimated ending inventory at retail Estimated ending inventory at cost Estimated cost of goods solo