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tor 9 Exercises Exercise 9-13 (Algo) Retail inventory method; average cost [L09-3) 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: Coat Retail Beginning inventory $37,000 $52,000 Net purchases 1,795 31,300 Net markups 1,400 Bet markdown tot sales 34,000 POD Dol Required: 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 (.e., 0.1234 should be entered as 12.34%). Enter amounts to be deducted with a minus sign.) 3 Cost 1 S 37,000 $ 17.795 cos Beginning inventory Net purchases Net markups Not markdowns Goods available for sale Retail COMO-ROTATI Ratio 52.000 31,000 1.400 (900) 54,300 54.795 5 Cost-to-real percentage S 54,300 Not sales Estimated ending inventory stretat Estimated anding Inventory at cost Estimated cost of goods sold SAILIDE 3-1 Miyu) UNVEILIUITAT EL TEUTUU LLUSS Campbell Corporation uses the retail method to value its inventory. The following information is available for the year 2021 Merchandise inventory, January 1, 2021 Purchases Freight-in Net narkups Net markdowns Net sales Cost Retail $195,000 $285,000 596,745 845,000 B, 200 21,000 5,000 805,000 Required: Determine the December 31, 2021, inventory by applying the conventional retail method using the information provided. (Round ratio calculation to 2 decimal places (.e., 01234 should be entered as 12.34%.). Enter amounts to be deducted with a minus sign.) 2 Cast Cost-to-Retail Ratio $ Beginning inventory Purchases Freight-in Netmarkus 195,000 $ 596,745 8,200 Retail 285,000 845,000 Not markdowns Goods available for sale 21.000 1.151.000 (5,000) 1.140,000 799,845 Cort-to-retail percentage Netales Estimated ending inventory at Estimated ending Inventory to (805.000) 341,000 $