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 Beginning inventory Cost $ 42,000 12,030 Retail $ $7,000 32,300 1,900 Net purchases Net markups Net markdowns Net sales Required: 1,150 39,000 Complete the table below to estimate the average cost of ending inventory and cost of goods sold for October using the information provided. Note: 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. minus sign. Beginning inventory Net purchases Net markups Net markdowns Goods available for sale Cost-to-retail percentage Net sales Estimated ending inventory at retail Estimated ending inventory at cost Estimated cost of goods sold Cost Retail $ 42,000 $ 57,000 Cost-to-Retail Ratio %