New York Sales Inc. uses the conventional retail method to estimate its ending inventories. The following data has been summarized for December 31, 2021: Cost Retail Inventory, January 1 $160,000 Purchases 538,000 Net markups 12,000 Net markdowns 9,100 Net sales 582,000 Inventory, Dec. 31 $77,285 Required: Compute the cost-to-retail percentage used by New York Sales Inc. (Round "Cost-to-retail percentage" to the nearest whole percent.) Cost-to-retail percentage %