Almaden Valley Variety Store uses the retail inventory method to estimate ending inventory and cost of goods sold. Data for 2018 are as follows Retail 20,000 28,000 110,600 173,000 Cost Beginning inventory Purchases Freight-in Purchase returns Net markups Net markdowns Normal spoilage Net sales 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 2018, applying the conventional retail method Cost-to-Retail Ratio Cost Retail Beginning inventory Plus: Purchases 28,000 173,000 20,000 S 110,600 Freight-in 1,400 (11,000) 10,000 200,000 (7,000) 193,000 Less: Purchase returns (8,000) Plus: Net markups Less: Net markdowns 0 Goods available for sale 124,000 Cost-to-retail percentage 5,000 160,000 Less: Normal spoilage Net sales Estimated ending inventory at retail Estimated ending inventory at cost Estimated cost of goods sold