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, 2018:

	Cost			Retail
Beginning inventory	$	400,000		$	535,000
Net purchases		905,000			1,310,000
Freight-in		45,000
Net markups					58,000
Net markdowns					28,000
Net sales					1,250,000

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%.))

What is the estimated ending inventory cost?

Cost-to-Retail Ratio Cost Retail 400,000 $ 535,000 1,310,000 0 58,000 28,000 1,340,000 1,875,000 Beginning inventory Plus: Net purchases 905,000 45,000 0 0 950,000 1,350,000 Freight-in Net markups Less: Net markdowns Goods available for sale (excluding beg Inventor Goods available for sale (including beg. Inventory) Cost-to-retail percentage 70.90% 1,250,000 $ 625,000 Less: Net sales Estimated ending inventory at retail Estimated ending inventory at cost Estimated cost of goods sold $ 1,350,000