Presented below is information related to Fusion Company. Cost $ 500 20,000 Beginning inventory Purchases Markups Markup cancellations Markdowns Markdown cancellations Retail $1,000 35,000 3,000 1,000 2,500 2,000 Sales 37,500 Required: a. Compute a Cost-to-retail ratio after net markups but before net markdowns. b. Compute the inventory by the conventional retail inventory method