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 $115,000 $207,000 434,000 735,000 65,000 25,000 701,000 The conventional cost-to-retail percentage (rounded) is: Multiple Choice 54.5%. O 54.0%. O 62.1%. O O 80.1%