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	$	410,000		$	545,000
Net purchases		910,000			1,320,000
Freight-in		44,400
Net markups					59,000
Net markdowns					29,000
Net sales					1,255,000

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
Beginning inventory
Plus: Net purchases
Freight-in
Net markups
Goods available for sale		0
Less: Net markdowns
Goods available for sale	0	0
Cost-to-retail percentage
Less: Net sales
Estimated ending inventory at retail		$0
Estimated ending inventory at cost
Estimated cost of goods sold	$0