The following data concerning the retail inventory method are taken from the financial records of Sheridan Company. Cost Retail Beginning inventory $ 201000 $ 285000 Purchases 901000 1330000 Freight-in 24500 Net markups 80500 Net markdowns 56500 Sales 1394000 If the ending inventory is to be valued at approximately the lower of cost or market, the calculation of the cost-to-retail ratio should be based on goods available for sale at (1) cost and (2) retail, respectively of $1126500 and $1639000. $1126500 and $1615000. $1102000 and $1615000. $1126500 and $1695500.