Subject: accounting Adams Corporation uses a periodic inventory system and the retail inventory method to estimate ending inventory and cost of goodssold. The following data are available for the month of September 2021:Beginning inventoryNet purchasesNet markupsNet markdownsNet salesCost Retail$21,400 $38,60010,700?8,5002,500?The company used the average cost flow method and estimated inventory at the end of September to be $17,120.00. If the companyhad used the LIFO cost flow method, the cost-to-retail percentage would have been 50%Net purchases at retailNet salesRequired:Compute net purchases at retail and net sales for the month of September using the information provided. (Do not round yourintermediate calculations.)

Direct materials Conversion Total Cost of Beginning Inventory 13500 47200 60700 Current period…

Answered: sold. The following data are available…

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