Harvey's Junk Jewelry started business January 1, 2024, and uses the LIFO retail method to estimate ending inventory. Listed below is data accumulated for the year ended December 31, 2024:

	Cost	Retail
Beginning inventory	$ 15,700	$ 23,700
Purchases	49,700	78,700
Freight-in	3,200
Purchase returns	2,400	3,300
Net markups		2,350
Net markdowns		4,800
Net sales		71,300
Employee discounts		1,400

The numerator for the current period's cost-to-retail percentage is:

Multiple Choice

$48,100.

$48,050.

$50,500.

$66,200.