13.

Kiddie World uses a periodic inventory system and the retail inventory method to estimate ending inventory and cost of goods sold. The following data are available for the quarter ending September 30, 2021: Beginning inventory Net purchases Freight-in Net markups Net markdowns Net sales Cost Retail $450,000 $ 580,000 935,000 1,360,000 72,800 63,000 33,000 1,275,000 Estimate ending inventory and cost of goods sold (average cost). (Round ratio calculation to 2 decimal places (i.e., 0.1234 should be entered as 12.34%.)) Cost Retail Cost O-R Ratio $ 450,000 $ 935.000 72,800 580,000 1,360,000 Beginning inventory Plus: Net purchases Freight-in Net markups Less: Net markdowns Goods available for sale 63,000 (33.000) 1.970,000 $ 1,457,800 $ Cost-to-retail percentage (1275.000) 195.000 Less: Net sales Estimated ending Inventory at retail Estimated ending inventory at cost Estimated cost of goods sold