Retail Inventory Method Uncle Butch's Hunting Supply Shop reports the following information related to inventory: Cost $35,000 75,000 Beginning inventory Purchases Net additional markups Net markdowns Goods available for sale Sales Ending inventory at retail Retail $92,000 200,000 15,000 (22,000) $285,000 (178,000) $107,000 $110,000 Calculate Uncle Butch's' ending inventory using the retail inventory method under the FIFO cost flow assumption. Round the cost-to- retail ratio to 3 decimal places