Wk 2 - Apply: Summative Assessment (due Day 71 Saved 7 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 2020 Cost $45,000 18,580 Retail $60,000 32,620 2,200 1,300 42.ee Beginning inventory Net purchases Net markups Net markdowns Net sales 11.12 points 8 03:52:39 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 (l.e.. 0.1234 should be entered as 12.34%.). Enter amounts to be deducted with a minus sign.) eBook Cost-to-Retail Ratio References $ Cost 45,000 S 18.580 Beginning inventory Net purchases Net markups Net markdowns Goods available for sale Retail 60,000 32.600 2,200 (1.300) 93,500 63.580 Cost-to-retail percentage Net sales Estimated ending inventory at retail Estimated ending inventory at cost Estimated cost of goods sold