52 Exercise 9-13 (Algo) Retail inventory method; average cost [LO9-3] 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: Beginning inventory Net purchases Net markups Net markdowns Net sales Required: Cost Retail $46,000 20,255 $61,000 32,700 2,300 1,350 43,000 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.) Beginning inventory Net purchases Net markups Net markdowns Goods available for sale Cost-to-retail percentage Cost Retail Cost-to-Retail Ratio $ 46,000 $ 61,000 20,255 32,700 2,300 (1,350) 66,255 94,650 %