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, 2016:

	Cost			Retail
Beginning inventory	$	380,000		$	520,000
Net purchases		895,000			1,290,000
Freight-in		68,200
Net markups					56,000
Net markdowns					26,000
Net sales					1,240,000

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-to-Retail Ratio Cost Retail 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) 0 0 0 0 Cost-to-retail percentage Less: Net sales Estimated ending inventory at retail Estimated ending inventory at cost Estimated cost of goods sold 0 0