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 Net purchases Freight-in Net markups Net markdowns Net sales $410,000 545,000 910,000 1,320,000 44,400 59,000 29,000 1,255,000 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% ost-to-Retail Cost Retail Beginning inventory Plus: Net purchases $ 410,000545,000 1,320,000 910,000 44,400 Freight-in Net markups 59,000 29,000 1,350,000 1,895,000 Less: Net markdowns Goods available for sale (excluding beg Invento 954,400 Goods available for sale (including beg. Inventory) 1,364,400 Cost-to-retail percentage 70.70% Less: Net sales Estimated ending inventory at retail Estimated ending inventory at cost Estimated cost of goods sold 1,255,000 S 640,000 $ 1,364,400