Kiddie World uses a periodic inventory system and the retail inventory method to estimate ending inventory and cost of goods sold. The following data are available for the quarter ending September 30, 2021: Beginning inventory Net purchases Freight-in Net markups Net markdowns Net sales Cost Retail $450,000 $ 580,000 935,000 1,360,000 72,800 63,000 33,000 1,275,000 Estimate ending inventory and cost of goods sold (LIFO). (Round ratio calculation to 2 decimal places (i.e., 0.1234 should be entered as 12.34%.)) Cost Retail Cost-to-Retail Ratio $ $ 580,000 450,000 935,000 72,800 1,360,000 Beginning inventory Plus: Net purchases Freight-in Net markups Less: Net markdowns Goods available for sale (excluding beg. Inventory) Goods available for sale (including beg. Inventory) 63,000 33,000 1,390,000 1,007,800 1,457,800 1,970,000 Cost-to-retail percentage Less: Net sales 0 1,275,000 695,000 $ Estimated ending inventory at retail Estimated ending inventory at cost Estimated cost of goods sold $ 1,457,800