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Almaden Valley Variety Store uses the retail inventory method to estimate ending inventory and cost of goods sold Data for 2021 are as follows: Beginning

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Almaden Valley Variety Store uses the retail inventory method to estimate ending inventory and cost of goods sold Data for 2021 are as follows: Beginning Inventory Purchases Freight-in Purchase returns Net markups Niet markdowns Normal spoilage Net sales Cost Retail $ 15,000 $23,000 105,600 168,000 2,700 5,500 8,500 7,500 4,500 4,500 355,000 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.o., 0.1234 should be entered as 12.34.). Enter amounts to be deducted with a minus sign.) Retail Cost to Retail Ratio 23.000 $ Cost 15 000 $ 105.500 2.700 Beginning inventory Purchases Freight-in 168.000 amounts to be deducted with a minus sign.) - 10 2 oecima procese., 0.1234 should be entered os 12.34%). Enter Cost Rela Castin-Retail Ratio 5 23.000 168.000 Beginning inventory Purchases Freight-in Purchase returns Not markups 15,000 $ 105,600 2.700 (5,500) 7 500 (4.500) Not mackdowns Goods available for sale 117 800 Cost to retail percentage 4500) (155,000 Normal polage Not Sales Estimated ending inventory at roti Estimated ending inventory at cost Estimated cost of goods sold

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