1825. May's Dress Shop's inventory at cost on January 1 was $39,000. Its retail value was $59,000. During the year, May purchased additional merchandise at a cost of $195,000 with a retail value of $395,000. The net sales at retail for the year were $348,000. Calculate May's inventory at cost by the retail method. Round the cost ratio to the nearest whole percent. LU 18-2(1) 1826. A sneaker outlet has made the following wholesale purchases of new running shoes: 12 pairs at $45, 18 pairs at $40, and 20 pairs at $50. An inventory taken last week indicates that 23 pairs are still in stock. Calculate the cost of this inventory by FIFO. LU 18-1(2)