1 Calstone, Inc. uses the conventional retail inventory method. Expressed in millions of dollars, information about Calstone's 2021 inventory account is expressed in the table below: Cost Retail Beginning inventory 85 $ 150 Purchases 1,220 2,470 Freight-in 60 Purchase returns 75 175 Net markups 345 Net markdowns 160 Normal spoilage 90 Net sales 2, 240 1:06:47 What is the cost of Calstone's inventory at 12/31/2021? (Round your cost-to-retail percentage calculation to 2 decimal places and final answer to the nearest whole dollar.) Multiple Choice