Clarabell Inc. uses the conventional retail method to estimate ending inventory. Cost data for the most recent quarter is shown below:

	Cost	Retail
Beginning inventory	$105,000	$180,000
Net purchases	416,000	717,000
Net markups		50,000
Net markdowns		20,000
Net sales		692,000

The conventional cost-to-retail percentage (rounded) is:

Multiple Choice

• 60.3%.

• 71.5%.

• 55.0%.

• 53.9%.