5 Return 6.25 points Kiddie World 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 quarter ending September 30, 2021 Cont Retail Beginning inventory 5500,000 $630,000 et purchase 960,000 1.410,000 Freight-in 51.100 Het marks $8,050 Met markdown 38.000 et sales 1,300,000 Estimate ending inventory and cost of goods sold using the conventional method (Round ratio calculation to 2 decimal places ile 0.1234 should be entered as 12.34%) Beginning inventory Plus Not pura Freight Nam Good for Answer is complete but not entirely correct. Cost-bo- Cout Ratio $ 500.000 630,000 900.000 1.410.000 51100 68.000 2,100,000 (38.000) 1511100 2.070.000 Good to Canto percentage 73 LAN Eredning my (1.300.000 10.000 ter Markups Net markdowns Net sales 8, v 38,000 1,300,000 Estimate ending inventory and cost of goods sold using the conventional method. (Round ratio calculation to 2 decimal pla 01234 should be entered as 12.34%.)) Answer is complete but not entirely correct. Cost Retail Cost-to- Retail Ratio 500,000 980,000 51,100 $630,000 1,410,000 Beginning inventory Plus: Net purchases Freight in Net markups Goods available for sale Less: Net markdowns Goods available for sale 68,000 2.108,000 (38,000) 2,070,000 1,511,100 Cost to-retat percentage 73,00% (1,300,000) $ 770,000 Less: Not sales Estimated ending inventory at retail Estimated ending inventory at cost Estimated cost of goods sold 562.100 M9,000