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 $ 12,000 $ 20,000 Purchases 102,600 165,000 Freight-in 3,480 Purchase returns 4,000 7,000 Net markups 6,000 Net markdowns 3,000 Normal spoilage 4,200 Net sales 152,000 Required: Complete the table below to estimate the ending inventory and cost of goods sold for 2018, applying the conventional retail method Cost-to-Retail Cost Retail Ratio Beginning inventory Plus: Purchases Frint.in