Almaden Valley Variety Store uses the retail inventory method to estimate ending inventory and cost of goods sold. Data for 2018 are as follows:

	Cost			Retail
Beginning inventory	$	19,000		$	27,000
Purchases		109,600			172,000
Freight-in		7,600
Purchase returns		7,500			10,500
Net markups					9,500
Net markdowns					6,500
Normal spoilage					4,900
Net sales					159,000

Required: Complete the table below to estimate the ending inventory and cost of goods sold for 2018, applying the conventional retail method

	Cost	Retail	Cost-to-Retail Ratio
Beginning inventory
Plus: Purchases
Freight-in
Less: Purchase returns
Plus: Net markups
		0
Less: Net markdowns
Goods available for sale	0	0
Cost-to-retail percentage
Less: Normal spoilage
Net sales
Estimated ending inventory at retail
Estimated ending inventory at cost
Estimated cost of goods sold