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Clarabell Inc. uses the conventional retail method to estimate ending Inventory. Cost data for the most recent quarter is shown below: Cout $112,000 402,000 Beginning

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Clarabell Inc. uses the conventional retail method to estimate ending Inventory. Cost data for the most recent quarter is shown below: Cout $112,000 402,000 Beginning inventory Net purchases Net markups Net markdowns Net sales Retail $191,000 703,000 43,000 21,000 685,000 The conventional cost-to-retail percentage (rounded) is: Multiple Choice 58.9% 549% 53.6%

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