Drill Problem 18-16 (Algo) [LU 18-2 (1)] From the following, calculate the cost ratio and the cost of ending inventory to the nearest cent under the retail method. Note: Round the "cost ratio" to the nearest hundredth percent. Round the "cost of ending inventory" to the nearest cent. Net sales at retail for year Beginning inventory-cost Beginning inventory-retail Purchases-cost Purchases-retail $ 46,500 $ 33,500 $ 55,500 $ 15,300 $ 20,300 Beginning inventory Net purchases Cost of goods available for sale Less net sales at retail Ending inventory at retail Cost ratio Ending inventory at cost Cost Retail %