Almaden Valley Variety Store uses the retail inventory method to estimate ending inventory and cost of goods sold. Data for 2021 are as follows: Retail $ 39,000 184,000 Cost Beginning inventory Purchases Freight-in Purchase returns Net markups Net markdowns Normal spoilage Net sales $ 31,000 121,600 6,600 4,500 11,000 15,500 12,500 6,100 171,000 Required: Complete the table below to estimate the ending inventory and cost of goods sold for 2021, applying the conventional retail method using the information provided. (Round ratio calculation to 2 decimal places (i.e., 0.1234 should be entered as 12.34%.). Enter amounts to be deducted with a minus sign.) Answer is complete but not entirely correct. Cost-to- Cost Retail Retail Ratio Beginning inventory 24 31,000 39,000 Purchases 121,600 184,000 Freight-in 6,600 Purchase retuns (4,500) 11,000 Net markups 15,500 227,500 Net markdowns (12,500) Goods available for sale 154,700 215,000 Cost-to-retail percentage 68.00 % Normal spoilage (6,100) Net sales (171,000) Estimated ending inventory at retail Estimated ending inventory at cost 37,900 25,772 O Estimated cost of goods sold 24 116,280 X