Q 17 The following information is available for the past year for a retail store: Sales Sales Returns Markups Markup cancellations Markdowns $121,000 $1,000 $11,000 $1,000 $9,000 $40,000 $90,000 $30,000 $40.000 urchases (at cost) urchases (at retail) Beginning inventory (at cost) Beginning inventory (at retail) What is the cost-to-retail ratio to estimate the cost of ending inventory using the conventional retail method? (Round cost-to-retail ratios to four decimal places.) Select one: a. 50.00% b. 53.44% c. 40.00% d. 43.96% , e. None of the above