R K Landscaping and Nursery began November with merchandise inventory that cost $ 46,800 (retail $ 65,520).

Question:

R K Landscaping and Nursery began November with merchandise inventory that cost $ 46,800 (retail $ 65,520). During November, R K made net purchases that cost $ 33,900 (retail $ 47,460) and had net sales revenue of $ 61,800. Use the retail method to estimate the cost of the ending merchandise inventory for November. (Round the cost to retail ratio to the nearest percent. Round all other numbers to the nearest dollar.)