Crane Co. uses the conventional retail inventory method to value its merchandise inventory. The following information is available for the current year: Cost $ 45,000 190,000 4,500 Retail $ 60,000 280,000 Beginning inventory Purchases Freight-in Net markups Markdowns Markdown cancellations Normal damage Sales revenue 8,500 12,000 2,000 3,000 206,000 Requirements: 1. What is the ending inventory at retail? (4 points) Answer: Ending inventory at retail- A/ 2. Show the work to calculate the cost-to-retail ratio under the conventional retail inventory method by filling out the amounts for the numerator (box a) and the denominator (box b) separately as indicated below. (2 points each) Cost-to retail ratio = (a) ? (b)