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 2016:

CostRetailBeginning inventory$53,000$68,000Net purchases13,75533,400Net markups3,000Net markdowns1,700Net sales50,000

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