Return Exercise y-13 (Algo) Retail Inventory method; average cost [LUy-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 Retail Beginning inventory $47,000 $62, 000 Net purchases 10, 480 32,800 Net markups 2, 400 Net markdowns 1, 400 Net sales 44, 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. (Round ratio calculation to 2 decimal places (i.e., 0.1234 should be entered as 12.34%.). Enter amounts to be deducted with a minus sign.) I X Answer is complete but not entirely correct. Cost-to- Cost Retail Retail Ratio Beginning inventory $ 47,000 62,000 Net purchases 10,480 32,800 Net markups 2,400 Mc