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			Retail
Beginning inventory	$	320,000		$	465,000
Net purchases		863,000			1,230,000
Freight-in		24,500
Net markups					50,000
Net markdowns					20,000
Net sales					1,210,000

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