?Clarabell Inc. uses the conventional retail method to estimate ending inventory. Cost data for the most recent quarter is shown below:
(cost, retail)
beginning inventory:(112,000; 191,000)
net purchases:(402,000; 703,000)
net markups: (0; 43,000)
net markdowns: (0; 21,000)
net sales: (0; 685,000)
The conventional cost-to-retail percentage (rounded) is: