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 markup Net markdowns Normal spoilage Net sales Cost Retail $ 20,000 $ 28,000 110,600 173,000 1,400 8,000 11,000 10,000 7,000 5,000 160,000 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.) a . Answer is complete but not entirely correct. . Cost Retail Cost-to- Retail Ratio IS S 28,000 173,000 Beginning inventory Purchases Freight-in Purchase returns 20,000 110,600 1,400 (8,000 Net markups (11,000) 10,000 200,000 (7,000) 193,000 Net markdowns Goods available for sale 124,000 Cost-to-retail percentage 64.25 % Normal spoilage Net sales (5,000) (160,000) 28,000 s Estimated ending inventory at retail Estimated ending inventory at cost Estimated cost of goods sold 17,990 X S 106,010 X