The following information is available for the past year for a retail store: Sales $121,000 Sales Returns $1,000 Markups $11,000 Markup cancellations $1,000 Markdowns $9,000 Purchases (at cost) $40,000 Purchases (at retail) $90,000 Beginning inventory (at cost) $32,000 Beginning inventory (at retail) $ 42,000 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 three decimal places.) a. 50.7% b. 54.55% 59.02 d. 76.19%