Check my work 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: Beginning inventory Net purchases Freight-in Net markupa Net markdowns Net sales Coat Retail $460,000 $ 590,000 940,000 1,370,000 52,700 64,000 34,000 1,280,000 Estimate ending inventory and cost of goods sold (average cost). Cost-to-Retail Ratio Beginning inventory Plus: Net purchases Freight-in Netmarkups Less: Not markdowns Goods available for sale $ 0 Cost-o-retail percentage Less: Net sales Estimated ending Inventory at retail Estimate ending inventory and cost of goods sold (average cost). Cost Retail Cost-to-Retail Ratio Beginning inventory Plus: Net purchases Freight-in Net markups Less: Net markdowns Goods available for sale + ol Cost-to-retail percentage Less: Net sales Estimated ending inventory at retail Estimated ending inventory at cost Estimated cost of goods sold