0.5/1 Lily Shoe Store uses the retail inventory method for its two departments, Women's Shoes and Men's Shoes. The following information for each department is obtained. Item Beginning inventory at cost Women's Shoes Men's Shoes $23,000 $50,000 Cost of goods purchased at cost 120,640 148,120 Net sales 177,000 189,000 Beginning inventory at retail 50,000 65,000 Cost of goods purchased at retail 178,000 189,000 (a1) Your answer is correct. Calculate cost-to-retail ratio. Women's Shoes Cost-to-retail ratio: 2 Men's Shoes