Exercise 9-16 (Algo) Conventional retail method; normal spoilage [LO9-4) Almaden Valley Variety 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-in Purchase returns Net markups Net markdowns Normal spoilage Net sales Cost Retail $ 25,000 $ 33,000 115,600 178,000 7,630 6.000 8,000 12,500 9,500 5,500 165,000 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 (l.e., 01234 should be entered as 12.34%). Enter amounts to be deducted with a minus sign.) Answer is not complete, Cost Retail Cont-to- Retall Ratio S IS Beginning inventory Purchases 25,000 115,600 33,000 178,000 amounts to be deducted with a minus sign.) Answer is not complete. Cost Rotall Cost-to- Retail Ratio $ $ 33,000 178,000 Beginning inventory Purchases Freight-in Purchase returns Net markups 25,000 115,600 7,630 (6,000) (8,000) 12,500 215,500 (9,500) 206,000 Net markdowns Goods available for sale 142.230 Cost-to-retail percentage Normal spoilage Net sales Estimated ending inventory at retail Estimated ending inventory at cost Estimated cost of goods sold (5,500) (165,000) 35,500 $