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			Retail
Beginning inventory	$	47,000		$	62,000
Net purchases		10,480			32,800
Net markups					2,400
Net markdowns					1,400
Net sales					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.

Cost Retail Retail Cost-to-Retail Ratio Beginning inventory Plus: Net purchases Net markups Less: Net markdowns Goods available for sale Cost-to-retail percentage Less: Net sales Estimated ending inventory at retail Estimated ending inventory at cost Estimated cost of goods sold