Wk 2 Practice. Knowledge Cheek (alle 7 29 points ebook 10 References Exercise 9-13 (Algo) Retail inventory method; average cost [LO9-3] 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 Beginning Inventory Net purchases Net markups Net markdowns Net sales Required: Cost $52,000 Betall $67,000 19,085 33,300 2,900 1,650 49,000 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 (ie., 0.1234 should be entered as 12.34%). Enter amounts to be deducted with a minus sign.) Beginning inventory Not purchases Net markups Net markdowns Goods available for sale Cont-to-retail percentage Net sales Estimated ending inventory at retall Estimated ending inventory at cost Estimated cost of goods sold Cost Retail S 52.000 5 67.000 19.085 33,300 2,900 (1,650) 71,085 101,550 Cost to Retail Ratio