Cost		Retail
Beginning inventory	$	54,000	$	74,000
Purchases		221,000		414,000
Freight-in		18,358
Purchase returns		6,500		9,000
Net markups				7,200
Net markdowns				4,900
Normal breakage				9,000
Net sales				294,000
Employee discounts				1,600

Sales are recorded net of employee discounts.

2. Recompute the cost-to-retail percentage using the average cost method.(Round your percentage answer to 2 decimal places (i.e., 0.1234 should be entered as 12.34%).)