Benny's Bed Co. uses a periodic inventory system and the conventional retail method to estimate ending inventory and cost of goods sold. The following data is available from the company records for the month of September 2021. Cost Retail Beginning inventory $ 30,000 $ 50,000 Net purchases 125,000 220,000 Net markups 15,000 Net markdowns 6.000 Net sales 208,000 a. Determine the cost to retail percentage that would be used for applying the Conventional Retail Method. Round this percentage to two decimal places, for example an answer of.647398 would round to 64.74% or 6474. If you carry all decimals in your computations, you will not be penalized. b. estimate Cost of Goods Sold to the nearest dollar using the Conventional Retail Method HTML Editor