Required information Problem 9.6 (Algo) Retail inventory method; average cost and conventional [LO9-3, 9-4] [The following information applies to the questions displayed below) Sparrow Company uses the retall inventory method to estimate ending inventory and cost of goods sold Data for 2021 are as follows. The company records sales net of employee discounts. Employee discounts for 2021 totaled $3,900 Problem 9-6 (Algo) Part 1 Required: 1. Estimate Sparrow's ending inventory and cost of goods sold for the yeor using the retall inventory method and the average cost. application. (Round Cost-to-retall percentage to 2 decimal places and final answers to the nearest whole dollar amount.) Required: 1. Estimate Sparrows ending inventory and cost of goods sold for the year using the retail inventory method and the average cost application. (Round Cost-to-retail percentage to 2 decimal places and final answers to the nearest whole dollar amount.) Anwwer is complete but not entirely correct. Required: 2. Estumate Sparrow's ending inventory and cost of goods sold for the year using the retail inventory method and the comventional applicabon. (Round Cost-to-retall percentage to 2 decimal places and final answers to the nearest whole dollar amount.)