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 Cont Retail $330,000 $ 480,000 868,000 1,240,000 97,000 51,000 21,000 1,215,000 Estimate ending inventory and cost of goods sold using the conventional method. (Round rotio calculation to 2 decimal places (ie, 0.1234 should be entered as 12.34%.)) Beginning inventory Plus: Not purchases Freight-in Not markups Goods available for sale Less Net markdowns Goods available for sale Answer is complete but not entirely correct. Cost-to- Cost Retail Retail Ratio s 330,000 $ 480,000 868,000 1,240,000 97,000 51,000 1,771,000 (21,000) 1,295,000 1,750,000 Estimate ending inventory and cost of goods sold using the conventional method. (Round ratio calculation to 2 decimal places (i.e., 0.1234 should be entered os 12.34%.)) Beginning inventory Plus Net purchases Freight-in Net markups Goods available for sale Less Netmarkdowns Goods available for sale Answer is complete but not entirely correct. Cost-to- Cost Retail Retail Ratio $ 330,000 $ 480,000 868,000 1,240,000 97000 51,000 1,771,000 (21,000) 1.295,000 1,750,000 Cost to total percentage 7400% Less Not Sales Estimated ending inventory at (1,215,000) $ 535.000 Estimated ending inventory at (cond Estimated cost of goods sold 305 9003 139.100 X $