Robotics Corporation uses a periodic inventory system and the retail inventory method. Accounting records provided the following information for the 2024 fiscal year: Cost Retail Beginning inventory $ 280,000 $ 520,000 Net purchases 681,000 1,240,000 Freight-in 22,400 Net markups 28,000 Net markdowns 9,000 Normal spoilage 6,000 Sales 1,420,000 The company records sales to employees net of discounts. These discounts totaled $27,000 for the year. Estimate ending inventory and cost of goods sold using the conventional method. Note: Round ratio calculation to 2 decimal places (i.e., 0.1234 should be entered as 12.34%.)