Cost Retail

march 1	merchandise inventory	$310,000	550,000
1-31	perchases (net)	307,250	515,000
mach 1-31	sales		400,000

On the basis of the above data, determine the estimated cost of the inventory as of March 31 by the retail method. Round the cost/retail ratio to two decimal places. For example, .681534 would be rounded to 68%.

Merchandise inventory, March 31, at retail price	$
Merchandise inventory, March 31, at estimated cost price	$