16 Exercise 9-16 (Algo) Conventional retail method; normal spoilage (L09-4) Almaden Valley Variety Store uses the retail inventory method to estimate ending inventory and cost of goods sold Data for 2021 are as follows: 5.4 points cas Beginning inventory Purchases Freight-in Purchase returns Net markup Net markdowns Normal spoila Net sales Cost 3 22.000 3 30.000 112,600 175.000 2,50 4,500 12,000 31. 3.ee 5.20 162,00 Required: Complete the table below to estimate the ending inventory and cost of goods sold for 2021. applying the conventonal retal method using the information provided (Round ratio calculation to 2 decimal places (le. 0.1234 should be entered as 12.34%). Enter amounts to be deducted with a minus sign.) Beginning inventory: Purchases Freight in Answer is complete but not entirely correct. Costa Cost Retai Retail Ratio 22 000 $ 30 000 112.000 175.000 2.500 4.500 112.000 16 amounts to be deducted with a minus sign.) Answer is complete but not entirely correct. 0.4 point Cost Heta $ as 30.000 175,000 Beginning inventory Purchases Freight-in Purchase returns Netmarkus 22.000 112.000 2.500 (4.500 (12.000) 11.000 204,000 8.000 100.000 Netmarkdowns Goods available for sale 132.000 Cost to retail percentage 85.00 Noma spolage Net sales Estimated ending inventory atra Estimated ending inventory at cost Estimated cost of goods sold 16,200) (162.000 28.800 20 120 103.4003 $