May's Dress Shop's inventory at cost on January 1 was $38,500. Its retail value was $58,500. During the year. May purchased additional merchandise at a cost of $194,900 with a retail value of $394,900. The net sales at retail for the year were $347.500. Calculate May's inventory at cost by the retail method. (Round the "cost ratlo" to the nearest whole percent.) Retail S Cost 58,500 194,900 Beginning inventory Purchases Cost of goods available for sale Less net sales for year Ending inventory at retail Cost ratio Ending inventory at cost %