please explain the answers so it can be used for review!

all details of the retail department are listed in the table. this is all the given information.

Use the following information to answer questions \#5 through \#8. Frazier Dept. Store uses the retail inventory method. Frazier's accounting records for 1995 contained the following information: 5. Assuming Frazier uses the lower of average cost or markef approach, calculate the cost-to-retail ratio for December 31 , 1995 (round all ratios to two decimal places): A. 69.44 B. 70.03 (D.) 67.03 E. 71.23% 6. Assuming Frazier uses the FIFO approach, calculate the costto-retail ratio for December 31, 1995: A. 68.12% (C) 73.53% B. 72.06% B. 71.23% 7. Assuming Frazier uses the LIFofapproach, calculate the ending inventory at retai1 for December 31,1995 : C. $115,000 D. $80,883 E. $113,000 Assuming that Frazier uses the average costs approach, calculate the ending inventory at cost for December 31, 1995: A. $74,932 C. $82,627 B. $78,353 B. $80,883 D. $83,089