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 2018 Beginning inventory Net purchases Net markups Net markdowns Net sales Cost Retail $42,000 $57,000 12,030 32,300 1,900 1,150 39,000 Required: Complete the table below to estimate the average cost of ending inventory and cost of goods sold for October Answer is complete but not entirely correct Cost-to- Retall Ratio Cost Retall 42,000$ 57,000 00 1,900 1,150 90,050 Beginning inventory Plus: Net purchases 20032,3 Net markups Less: Net markdowns Goods available for sale 54,030 Cost-to-retail percentage 6096 39,000 S 57,000 Less: Net sales Estimated ending inventory at retail Estimated ending inventory at cost Estimated cost of goods sold 34,200 $ 22,800