Assume the same facts for Trent Co. (which is still using the retail inventory method). The following information is available for the current year: Cost Retail Beginning inventory Purchases Freight-in Employee discounts Net mark-ups Net Markdowns Sales dollar $78,000 295,000 5,000 - - - - $122,000 415,000 - 2,000 15,000 20,000 390,000 If the ending inventory is to be valued at approximately LIFO cost under the retail method, the calculation of the cost ratio should be based on cost and retail of