Willie Nelson's Boots uses the conventional retail method to estimate ending inventory. Cost data for the most recent quarter is shown below:

	Cost	Retail
Beginning inventory	$50,000	$67,000
Net purchases	158,000	223,000
Net markups		26,000
Net markdowns		39,000
Net sales		224,000

The conventional cost-to-retail percentage (rounded) is:

a)	71.7%.
b)	75.1%.
c)	65.8%.
d)	83.2%.