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: Cost $51,000 19,280 Beginning inventory Net purchases Net markups Net markdowns Net sales Retail $66,000 33,200 2,800 1,600 48,000 Required: Complete the table below to estimate the average cost of ending inventory and cost of goods sold for October using the information provided. Cost Retail Cost-to-Retail Ratio Beginning inventory Plus: Net purchases Net markups Less: Net markdowns Goods available for sale Cost-to-retail percentage Less: Net sales Estimated ending inventory at retail Estimated ending inventory at cost Estimated cost of goods sold