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What is the cost to retail ratio

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Question - Arrow Corporation uses the conventional retail inventory method to value its merchandise inventory. The following information is available for the current year:

 

Cost

Retail

Beginning Inventory

$30,000

$50,000

Purchases

$180,000

$250,000

Freight-In

$2,500

----

Net Markups

$8,500

Net Markdowns

$10,000

Employee Discounts

$1,000

Sales

$205,000

What is the cost to retail ratio?

68.88%

68.07%

70.35%

70.83%

Reference no: EM132110488

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