(CPA) 500 680 40 Your Company uses the conventional retail inventory method to account for inventory. The following information relates to current-year operations: Cost. Retail Beginning inventory & purchases $172 $240 Purchases Net markups Net markdowns Sales 750 _Answer the following 4 questions: How much is the cost to retail ratio? What is the selling price (retail value) of the goods in ending inventory? What is the cost of Dubious' year end inventory? What amount should be reported as cost of goods sold for the year? 60