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: Beginning inventory Net purchases Net markups Net markdowns Net sales Cost $42,000 12,030 Retail $57,000 32,300 1,900 1,150 39,000 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 $ 42,000 $ 57,000 Plus: Net purchases Net markups 12,030 32,300 0 1,900 Less: Net markdowns 0 1,150 Goods available for sale 54,030 90,050 Cost-to-retail percentage Less: Net sales 0 39,000 Estimated ending inventory at retail Estimated ending inventory at cost Estimated cost of goods sold