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 2021:

	Cost			Retail
Beginning inventory	$	35,000		$	50,000
Net purchases		19,120			31,600
Net markups					1,200
Net markdowns					800
Net sales					32,000

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

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