Data below for the year ended December 31, 2013, relates to Houdini Inc. Houdini started business January 1, 2013, and uses the LIFO retail method to estimate ending inventory. Cost Retail Beginning inventory $68,000 $111,000 Net purchases 332,290 490,000 Net markups 27,000 Net mark downs 47,000 Net sales 438,000 Current period cost-to-retail percentage is: 70.7%. 68.9%. 64.3%. 61.3%.