Uncle Butch's Hunting Supply Shop reports the following information related to inventory: Cost Retail $ 35,000 75,000 Beginning inventory Purchases Net additional markups Net markdowns Goods available for sale Sales Ending inventory at 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 assump- tion. Round the cost-to-retail ratio to 3 decimal places. RE8-7 Cost-to-retail ratio (for purchases): Ending inventory at retail = mo Ending inventory at FIFO cost