Almaden Valley Variety Store uses the retail inventory method to estimate ending inventory and cost of goods sold. Data for 2016 are as follows:

Complete the table below to estimate the ending inventory and cost of goods sold for 2016, applying the conventional retail method

Cost Retail Beginning inventory S 16,000 $ 24,000 Purchases 106.600 69,000 8,200 6,000 Freight-in Purchase returns Net markups Net markdowns Normal spoilage Net sales 9,000 8,000 5,000 4,600 156,000 Cost-to-Retail Ratio Cost Retail Beginning inventory Plus: Purchases Freight-in Less: Purchase returns Plus: Net markups Less: Net markdowns Goods available for sale Cost-to-retail percentage Less: Normal spoilage Net sales Estimated ending inventory at retail ending inventory at cost Estimated cost of goods sold