Willie Nelson's Boots uses the conventional retail method to estimate ending Inventory. Cost data for the most recent quarter is shown below. Beginning inventory Net purchases Net markups Net markdowns Net sales Cost Retail $ 48,000 $ 65,000 156,000 The conventional cost-to-retall percentage (rounded) is: Multiple Choice 76.4% 84.3% 67.1%. 71.8%. 219,000 20,000 37,000 222,000