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Retail Inventory Method The following information is provided by Raynette's Pharmacy for the last quarter of its fiscal year ending on March 31, 20--- Cost Retail Inventory, start of period, January 1, 20 $30,300 $50,500 Net purchases during the period 189,948 268,700 Net sales for the period 256,700 Required: 1. Estimate the ending inventory as of March 31 using the retail inventory method. 2. Estimate the cost of goods sold for the time period January 1 through March 31 using the retail inventory method