Required information

Problem $9-13($Algo$)$ Retail inventory method; various applications $[$LO$9-3,9-4,9-5]$

$[$The following information applies to the questions displayed below.$]$

On January $1,2024,$ Pet Friendly Stores adopted the retail inventory method. Inventory transactions at both cost and retail, and cost indexes for $2024$ and $2025$ are as follows:

$\backslash$table$[[,2024,2025,],[$Beginning inventory,Cost,Retail,Cost,Retail$],[$Purchases$,140,000,$$$200,000,,|||,],[$Purchase returns,$440,000,594,000,$$$680,000,$$$854,000,],[$Freight$-$in$,3,500,4,350,3,200,4,550,],[$Net markups,$6,600,5,450,5,000,9,800,],[$Net markdowns,,$4,300,7,000,,],[$Net sales to customers,,$480,000,702,000,,],[$Sales to employees $($net of $20\%$ discount$),,19,200,19,200,,],[$Normal spoilage,,$2,900,4,000,,],[$Price Index:,,,,,$],[$January $1,2024,1\mathrm{.}00,,,,],[$December $31,2024,1\mathrm{.}25,,,,]]$

Problem $9-13($Algo$)$ Part $3$

Required:

$3.$ Estimate the $2024$ ending inventory and cost of goods sold $$sing the conventional retail method.

Note: Round your cost$-$to$-$retail percentage to $2$ decimal places and round your final answers to nearest whole dollar.

$\backslash$table$[[$Estimated ending inventory at retail,$\backslash$table$[[$Conventional Retail$],[$Method$]]],[$Estimated ending inventory at cost$,],[$Estimated cost of goods sold,$]]$