Cost Retail Beginning inventory Net purchases $36,000 13,890 $51,000 Net markups Net markdowns Net sales 31,700 1,300 850 33,000 Required: Complete the table below to estimate the average cost of ending inventory and cost of goods sold for October using the information provided. (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 Cost-to-retail percentage Net sales Estimated ending inventory at retail Estimated ending inventory at cost Estimated cost of goods sold Cost Retail Cost-to-Retail Ratio $ 36,000 $ 51,000 13,890 31,700 1,300 (850) 49,890 83,150 % Activa