A company uses the retail inventory method and has the following information available concerning its most recent accounting period:

At Cost At Retail

Beginning$-$of$-$period inventory $ $148,600$ $ $245,200$

Net purchases $677,4001,229,800$

Sales $1,200,000$

$1.$ What is the cost$-$to$-$retail ratio using the retail method?

$2.$ What is the estimated cost of the ending inventory?