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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

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:

Estimate ending inventory and cost of goods sold using the conventional method. (Round ratio calculation to 2 decimal places.

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