The Susan Retail Shop uses the FIFO retail inventory method to determine its ending inventory.The accounting records for the current year for Susan contained the following information: $\begin{array}{lll}&\text { Cost }&\text { Retail }\
\text { Purchases } & \$ 225,000 & \$ 362,250 \
\text { Beginning inventory } & 55,000 & 73,000 \
\text { Sales } & & 385,750 \
\text { Net markups } & & 32,500 \
\text { Net markdowns } & & 19,750 \
\text { Employee discounts } & & 12,500
\end{array}$ What is the cost-to-retail percentage to be used for ending inventory calculations?

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The Answer of The Susan Retail Shop uses the FIFO retail inventory method to determine its ending inventory.The accounting records for the current year for Susan contained the following information: $\begin{array}{lll}&\text { Cost }&\text { Retail }\
\text { Purchases } & \$ 225,000 & \$ 362,250 \
\text { Beginning inventory } & 55,000 & 73,000 \
\text { Sales } & & 385,750 \
\text { Net markups } & & 32,500 \
\text { Net markdowns } & & 19,750 \
\text { Employee discounts } & & 12,500
\end{array}$ What is the cost-to-retail percentage to be used for ending inventory calculations?

The Susan Retail Shop Uses the FIFO Retail Inventory Method