Beginning inventory $ 290,000 784,000 $ 368,000 960,000 Net purchases Net markups Net markdowns Net sales- Required: 25,000 5,000 926,000 Complete the table below to estimate the LIFO cost of ending inventory and cost of goods sold using the information provided. Assume stable retail prices during the period. 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. Beginning inventory Net purchases Net markups Net markdowns Goods available for sale (excluding beginning inventory) Goods available for sale (including beginning inventory) Cost-to-retail percentage (beginning) Cost-to-retail percentage (current) Net sales Estimated ending inventory at retail Estimated ending inventory at cost Estimated cost of goods sold Answer is not complete. Cost-to-Retail Cost Retail Ratio 290,000 $ 368,000 784,000 960,000 25,000 (5,000) 784,000 980,000 1,074,000 1,348,000 78.80% % 926,000 $ 422,000