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 Cost Beginning inventory Net purchases Freight-in Het markups Net markdowns Net sales Retail $300,000 $450,000 861,000 1,210,000 22,000 48,000 18,000 1,200.000 Estimate ending Inventory and cost of goods sold using the conventional method (Round ratio calculation to 2 decimal places (l.e.. 0.1234 should be entered os 12.34%.)) Cost 300,000 $ 861 000 22.000 Cost-to-Retail Retail Ratio 450,000 1 210,000 Beginning inventory Plus Net purchases Freight in Net markups Goods available for sale Loss Not markdowns Goods available for sale $ 48000 1,708 000 (18.000) 1,600,000 $ 1.183.000 $ Cost to retail percentage Less Net sales (1.200.000) on Net nackdowns Net sales 18,000 1,200,000 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 Cost-to-Retail Ratio $ Retail 450 000 1.210,000 300,000 $ 861.000 22000 1 nes Beginning inventory Plus Net purchases Freight in Net markups Goods available for sale Less Not markdowns Goods available for sale $ 48.000 1,708 000 (18.000) 1,690,000 S 1.183,000 $ Cost to total percentage (1,200.000) 490,000 $ Loss Not Sales Estimated ending inventory at retail Estimated ending inventory at cost Estimated cost of goods sold