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 $390,000 $ 525,000 900,000 1,300,000 27,050 57,000 27,000 1,245,000 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 as 12.34%.)) Cost Retail Cost-to-Retail Ratio S S 525,000 390,000 900.000 1,300.000 27.050 Beginning inventory Plus: Net purchases Freight-in Net markups Goods available for sale Less: Net markdowns Goods available for sale 57.000 1,882.000 (27.000) 1,317.050 1,855.000 Cost-to-retail percentage (1.245.000) 610.000 S Less: Net sales Estimated ending inventory at retail Estimated ending inventory at cost Estimated cost of goods sold