Almaden Valley Variety Store uses the retail inventory method to estimate ending inventory and cost of goods sold. The following data are available:

	Cost	Retail
Beginning inventory	$ 28,000	$ 36,000
Purchases	118,600	181,000
Freight-in	4,875
Purchase returns	7,500	9,500
Net markups		14,000
Net markdowns		11,000
Normal spoilage		5,800
Net sales		168,000

Required:

Complete the table below to estimate the ending inventory and cost of goods sold, applying the conventional retail method using the information provided.

Note: 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.