Exercise 9-16 (Algo) Conventional retall method; normal spollage (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 sarups Net sakdowns Normal speilage at sales Cost Retail $ 15,0 $ 23,00 205,600 158,00 2,70 5,500 8,5 7.5e 4, seu 4, See 155.00 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 (le, 0.1234 should be entered as 12.34%.). Enter amounts to be deducted with a minus sign.) Cost Cost to Read Rabo $ Retail 23,000 100.000 Beginning inventory Purchases Freight in Purchase returns Netmarkups 15.000 5 105.000 2.700 (5.500) 8.500 7.500 100.000 (4.600) 106.500 Net maridowns Goods avalable for sale 117.800 Contoret percentage Ch 09 Ex 9-16 Swee 1 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 rotlo calculation to 2 decimal placer (le, 0.1234 should be entered os 12.34%). Enter amounts to be deducted with a minus sign.) 10 points Cost Cost to Retail Ratio 5 Retail 23,000 100.000 DOO Beginning inventory Purchases Freight in Purchase returns Netmarkups 15.000 5 105.000 2.700 (5.500) Hint 8.500 7,500 100.000 14.500) 185,500 Netmarkdowns Goods available for sale 117.800 Print Cost-to-retail percentage References (4.500) (155,000 20,000 $ Normal spolage Net sales Estimated ending inventory at retail Estimated ending inventory at cost Estimated cost of goods sold