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	$	370,000		$	515,000
Net purchases		890,000			1,280,000
Freight-in		54,000
Net markups					55,000
Net markdowns					25,000
Net sales					1,235,000

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%.))