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 mackups Net markdowns Net soles Cost Retail 5300,000 $450,000 361,000 1,210,000 22.000 48.000 13,000 1,200,000 Estimate ending inventory and cost of goods sold faverage cost). (Round ratio calculation to 2 decimal places de 0.1234 should be entered as 12.349)) Estimate ending inventory and cost of goods sold (average cost) (Round ratio calculation to 2 decimal places (ie, 0.1234 should be entered as 12.34%.)) Cost Retail Cost to Retail Ratio $ Beginning inventory Plus Net purchases Freight-in Net markup Less: Not markdowns Goods available for sale 300.000 5 861.000 22.000 450,000 1.210.000 48.000 (18.0001 1.690.000 1.183.000 Cost to rotal percentage 01.200.000) 490.000 5 Less: Net sales Estimated ending inventory at retail Estimated ending inventory at cost Estimated cost of goods sold To 33 Next