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Exercise 9-16 (Algo) Conventional retail method; normal spoilage (L09-4) Almaden Valley Vanety Store uses the retail inventory method to estimate ending inventory and cost of

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Exercise 9-16 (Algo) Conventional retail method; normal spoilage (L09-4) Almaden Valley Vanety Store uses the retail inventory method to estimate ending inventory and cost of goods sold. Data for 2021 are as follows: Beginning inventory Purchases Freight Purchase returns Netaus Natron Normal spolage Cout Retail $ 22,000 $10,000 112.se 175.000 3. 4. 12.000 11,000 . 5.200 162. Required: Complete the table below to estimate the ending inventory and cost of goods sold for 2021.applying the conventional retail method using the information provided. (Round ratio calculation to 2 decimal places ... 0.1234 should be entered as 12.34%). Enter amounts to be deducted with a minus sign.) Complete the table below to estimate the ending inventory and cost of goods sold for 2021. applying the conventional retall method using the information provided. (Round ratio calculation to 2 decimal places (l.e., 0.1234 should be entered as 12.34%). Enter amounts to be deducted with a minus sign.) Cost Cost to Hetail Ratio $ Retail 30,000 175,000 Beginning inventory Purchases Freight in Purchase returns Netmarkups 22,000 $ 112,000 2.500 (4.500) 11,000 Netmarkdowns Guads available for sale (8,000) 132.600 Cesto-retail percentage (5200) (102.000) Nirmal spolage Nat sales Extending Inventory at a Estimated ending inventory at cost Estimated cost of goods sold

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