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	$	62,000		$	79,000
Net purchases		170,000			247,000
Net markups					38,000
Net markdowns					51,000
Net sales					236,000

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

63.7%.

71.2%.

74.1%.

84.7%.