At December 31, Bramble Books takes a physical inventory at retail. The actual retail values of the inventories in each department are Hardcovers $744,000 and Paperbacks $335,000.

Hardcovers Paperbacks

Cost Retail Cost Retail

Beginning inventory $409,000 $640,000 $270,000 $360,000

Purchases 2,170,250 3,305,000 1,162,000 1,540,000

Freight-in 29,000 13,000

Purchase discounts 44,000 20,000

Net Sales 3,150,000 1,540,000

Bramble Books uses the retail inventory method to estimate its monthly ending inventories. The following information is available for two of its departments at October 31, 2020.

1- Determine the cost-to-retail ratio.(Round answers to 0 decimal places, e.g. 25%.)

Hardcovers Paperbacks

Cost-to-retail ratio Cost-to-retail ratio

% _______________ %_________________

2- Determine the estimated cost of the ending inventory for each department at October 31, 2017, using the retail inventory method.(Round answers to 0 decimal place, e.g. 25,120.)

The estimated cost of the ending inventory Hardcovers Paperbacks

___________$ _____________$

3 - Compute the ending inventory at cost for each department at December 31, assuming the cost-to-retail ratios for the year are 65% for Hardcovers and 75% for Paperbacks.(Round answers to 0 decimal places, e.g. 25,120.)

The ending inventory Hardcovers Paperbacks

___________$ _____________$