Ortiz Department Store utilizes the retail inventory method to estimate its inventories. It calculated its cost to retail ratio during the period at 70%. Goods available for sale at retail amounted to $600,000 and goods were sold during the period for $440,000. The estimated cost of the ending inventory is (CLO81) Select one: a. $160,000 b. $12,000 c $420,000 d. $308,000 Next page