Fran Co. uses the retail inventory method. The following information is available for the current year Retail $183,000 623,000 Cost $117,000 442,000 8,000 Beginning inventory Purchases Freight-in Net Markups Net Markdowns Sales 22,000 30,000 582,000 17. If the ending inventory is to be valued at approximately lower of average cost or market (conventional method), the calculation of the cost ratio should be based on cost and retail of a. $567,000 and S798,000 b. $567,000 and S806,000 c. $559.000 and S825,000 d. S567,000 and S828,000 18.At December 31, 2013, the following information was available from Joseph Co.'s accounting records Retail Cost $147,000 833,000 Inventory, 1/1/13 Purchases Additional markups Available for sale S 203,000 1,155.000 42,000 0.000S1400.000 Sales for the year totaled $1,050,000. Markdowns amounted to $10,000. Under the lower-of-cost-or- market method for the retail inventory method, Joseph's inventory at December 31, 2013 was a. $294,000 b. S245,000 c. $252,000 d. S238,000