Data below for the year ended December 31, 2021, relates to Houdini Inc. Houdini started business January 1, 2021, and uses the LIFO retail method to estimate ending inventory. Beginning inventory Net purchases Cost Retail $ 70,000 $107,000 450,000 302,290 Net markups Net markdowns Net sales Current period cost-to-retail percentage is: Multiple Choice 70.3%. 69.3% 63.9% 65.4% 23,000 43,000 402,000