Question: please answer the question by completing the chart using the information provided. San Lorenzo General Store uses a periodic inventory system and the retail inventory

please answer the question by completing the chart using the information provided.San Lorenzo General Store uses a periodic inventory system and the retailplease answer the question by completing the chart using the information provided.

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 2018: Retail Cost Beginning inventory Net purchases Net markups $57,000 $42,000 12.030 32,300 1,900 Net markdowns 1,150 Net sales 39,000 Required: Complete the table below to estimate the average cost of ending inventory and cost of goods sold for October. Cost-to-Retail Cost Retail Ratio Beginning inventory Plus: Net purchases Net markups Less: Net markdowns Goods available for sale 0 Cost-to-retail percentage Less: Net sales Estimated ending inventory at retail Estimated ending inventory at cost Estimated cost of goods sold

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