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: Retail Beginning inventory $43,000 $58,000 32,400 2,000 1,200 40,000 Cost Net purchases Net markups 16,280 Net markdowns Net sales Required: Complete the table below to estimate the average cost of ending inventory and cost of goods sold for October. Cost-to-Retail Cost 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