Cost Retail Beginning inventory $188000 $272000 888000 1200000 Purchases 23200 Freight-in 79200 Net markups Net markdowns Sales 55200 1264000 If the ending inventory is to be valued at approximately the lower of cost or market, the calculation of the cost-to-retail ratio should be based on goods available for sale at (1) cost and (2) retail, respectively of O $1076000 and $1472000. O $1099200 and $1551200. O $1099200 and $1496000. O $1099200 and $1472000