The Following Data Concerning the Retail Inventory Method Are Taken

The following data concerning the retail inventory method are taken from the financial records of a small company. $\begin{array}{lrr}&\text { At Cost } & \text { At Retail } \\ \text {Beginning inventory }& \$37,200&\$60,000\\ \text {Purchases.}&182,000&308,000 \\ \text {Freight-in. }& 2,800&--\\ \text {Net mark-ups. }&---&2,000 \\ \text {Net markdowns. }&---&3,480 \\ \text {Sales. }&---&313,520 \\\end{array}$ (a) The ending inventory at retail should be: $_______________.
(b) If the ending inventory is to be valued at approximately the lower-of-cost-or-market,FIFO basis,the calculation of the cost to retail ratio should be based on goods available for sale at (1) cost and (2) retail,respectively,of: $________________ and $_________________.