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 $ 47,000 10,480 Beginning inventory Net purchases Net markups Net markdowns Net sales Retail $62,000 32,800 2,400 1,400 44,000 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