Saved Help Save & CI Exercise 9-18 Retail inventory method; solving for unknowns [L09-3] Adams Corporation 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 September 2018: Beginning inventory Net purchases Net markups Net markdowns Net sales $27,200 $40, 800 13, 600 4, 900 1,900 The company used the average cost flow method and estimated inventory at the end of September to be $2412000. If the company had used the LIFO cost flow method, the cost-to-retail percentage would have been 50%. Required: Compute net purchases at retail and net sales for the month of September. Net purchases at retail Net sales 24,200 S 43,800