California Inc., through no fault of its own, lost an entre plant due to an earthquake on May 1, 2021 in preparing its Insurance claim on the inventory loss, the company developed the following data: Inventory January 1, 2021, $440,000 sales and purchases from January 1, 2021 to May 1, 2021, $1,290,000 and $945,000, respectively. California consistently reports a 35% gross profit. The estimated inventory on May 1, 2021, 15 O $511,500. $547,700. $606,500. $546,500. Harvey's Junk Jewelry started business January 1, 2021, and uses the LIFO retail method to estimate ending inventory. Listed below is data accumulated for the year ended December 31, 2021 Beginning inventory Cost Retail $16,700 $24,700 Purchases 50,700 79,700 Freight-in 4.200 Purchase returns 3,400 5.300 Net narkups 2,850 Bet markdowns 5,800 Set sales 72,300 Employee discounts 2,400 The denominator for the current period's cost-to-retail percentage is The denominator for the current period's cost-to-retall percentage is. Multiple Choice O $97,150. $72,450. $86,600. $101,850