Sved Exercise 9-18 Retail inventory method; solving for unknowns [LO9-3] 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 Cost $20,600 $39,400 10,300 Retail Beginning inventory Net purchases Net markups 8,200 2,200 Net markdowns Net sales The company used the average cost flow method and estimated inventory at the end of September to be $15,70750. 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 Next > 1 of 16 Prev