Yankton, Inc. uses the Retail Inventory Method to estimate their inventory. Their beginning inventory at cost (retail) was $700,000 ($1,092,000), purchases were $6,076,000 ($10,577,000), purchase discounts were $140,000 ($245,000), and freight in was $63,000. They also reported net markups of $1,064,000, net markdowns of $1,463,000, and net sales of $9,499,000. What is the cost-to-retail ratio for the average cost approach? (A 21) Group of answer choices