San Lorenzo General Store 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 month of October 2018:

	Cost			Retail
Beginning inventory	$	43,000		$	58,000
Net purchases		16,280			32,400
Net markups					2,000
Net markdowns					1,200
Net sales					40,000

Required: Complete the table below to estimate the average cost of ending inventory and cost of goods sold for October.

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