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 $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 using the information provided. (Round ratio calculation to 2 decimal places (i.e., 0.1234 should be entered as 12.34%.). Enter amounts to be deducted with a minus sign.) Cost $ $ 47,000 10,480 Beginning inventory Net purchases Net markups Net markdowns Goods available for sale Retail Cost-to-Retail Ratio 62,000 32,800 2.400 (1,400) 95,800 57,480 Cost-to-retail percentage 65.00 % $ 95,800 Net sales Estimated ending inventory at retail Estimated ending inventory at cost Estimated cost of goods sold