Help Save & Exit Check my w 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: Cost Retail Beginning inventory $360,000 $ 510,000 Net purchases 884, 000 1, 270, 000 Freight-in 41, 100 Net markups 54, 000 Net markdowns 24, 000 Net sales 1, 230, 000 ices Estimate ending inventory and cost of goods sold (LIFO). (Round ratio calculation to 2 decimal places (i.e., 0.1234 should be entered as 12.34%.)) Cost Retail Cost-to-Retail Ratio Beginning inventory Plus: Net purchases Freight-in Net markups