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May's Dress Shop's inventory at cost on January 1 was $42,000. Its retall value was $62,000. During the year, May purchased additional merchandise at a

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May's Dress Shop's inventory at cost on January 1 was $42,000. Its retall value was $62,000. During the year, May purchased additional merchandise at a cost of $195,600 with a retail value of $395,600. The net sales at retail for the year were $351,000. Calculate May's inventory at cost by the retail method. Note: Round the "cost ratio" to the nearest whole percent

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