Roberson Corporation uses a periodic inventory system and the retail inventory method. Accounting records provided the following information for the 2018 fiscal year:

	Cost			Retail
Beginning inventory	$	250,000		$	460,000
Net purchases		670,000			1,210,000
Freight-in		10,600
Net markups					22,000
Net markdowns					10,000
Normal spoilage					7,000
Net sales					1,360,000

The company records sales to employees net of discounts. These discounts totaled $21,000 for the year. Estimate ending inventory and cost of goods sold using the conventional method.

	Cost	Retail	Cost-to-Retail Ratio
Beginning inventory
Plus: Purchases
Freight-in
Net markups
Goods available for sale
Less: Net markdowns
Goods available for sale
Cost-to-retail percentage
Less: Normal spoilage
Net sales
Employee discounts
Estimated ending inventory at retail
Estimated ending inventory at cost
Estimated cost of goods sold