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	$	490,000		$	620,000
Net purchases		955,000			1,400,000
Freight-in		10,500
Net markups					67,000
Net markdowns					37,000
Net sales					1,295,000

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%.))

	Cost	Retail	Cost-to-Retail Ratio
Beginning inventory
Plus: Net purchases
Freight-in
Net markups
Less: Net markdowns
Goods available for sale (excluding beg. Inventory)	0	0
Goods available for sale (including beg. Inventory)	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