Adams Corporation 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 month of September 2018: Cost Retail

Cost Retail

Beginning inventory $ 22,400 $ 41,600

Net purchases $11,200 ?

Net markups $10,900

Net markdowns $2,900

Net sales ?

The company used the average cost flow method and estimated inventory at the end of September to be $17,377.50. If the company had used the LIFO cost flow method, the cost-to-retail percentage would have been 50%. Required:

Required:

Compute net purchases at retail and net sales for the month of September.

Net Purchases
Net Sales