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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 Cost Retail $129,000 $220,000

Clarabell Inc. uses the conventional retail method to estimate ending inventory. Cost data for the most recent quarter is shown below Cost Retail $129,000 $220,000 Beginning inventory 436,000 737000 Net purchases 60,000 Net markups 26,000 Net markdowns 702,000 Net sales The conventional cost-to-retail percentage (rounded) is: Multiple Choice 62.3%. 54.4%. 706% 55.6%

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