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 $46,000 20,255 Beginning inventory Net purchases Net markups Net markdowns Net sales Retail $61,000 32,700 2,300 1,350 43,000 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.) Retail Cost-to-Retail Ratio $ Cost 46.000 $ 20.255 Beginning inventory Net purchases Net markups Net markdowns Goods available for sale 61,000 32,700 2,300 (1,350) 94,650 66,255 Cost-to-retail percentage % $ Net sales Estimated ending inventory at retail Estimated ending inventory at cost Estimated cost of goods sold 94,650 Campbell Corporation uses the retail method to value its inventory. The following information is available for the year 2021 Merchandise inventory, January 1, 2021 Purchases Freight-in Net markups Net markdowns Net sales Cost $280,000 687,000 17,000 Retail $289,080 912,080 29,000 4,900 890,000 Required: Determine the December 31, 2021, inventory by applying the conventional retail method 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 Retail Cost-to-Retail Ratio $ Beginning inventory Purchases Freight in Net markups 280,000 $ 687,000 17,000 289,000 912,000 Net markdowns Goods available for sale 29,000 1,230,000 (4.900) 1,225,100 984,000 Cost-to-retail percentage Net sales Estimated ending inventory at retail Estimated ending inventory at cost (890,000) 335,100 $ 268,080