Clarabell Inc. uses the conventional retail method to estimate ending inventory. Cost data for the most recent quarter is shown below: Beginning inventory Net purchases Net markups Net markdowns Net sales Cost Retail $123,000 $202,000 424,000 725,000 50,000 20,000 696,000 The conventional cost-to-retail percentage (rounded) is: Multiple Choice 64.3% 61.12 54.4%