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 $40,000 21,425 Beginning inventory Net purchases Net markups Net markdowns Net sales Retail $55,000 32,100 1,700 1,050 37,000 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 Retail Cost-to-Retail Ratio $ 40,000 $ 21,425 Beginning inventory Net purchases Net markups Net markdowns Goods available for sale 55,000 32,100 1,700 (1,050) 87,750 61,425 Cost-to-retail percentage 70.00 % Net sales $ 87,750 Estimated ending inventory at retail Estimated ending inventory at cost Estimated cost of goods sold