27. The following data concerning the retail inventory method are taken from the financial records of Welch Company. Cost Retail Beginning inventory $ 1840 $ 2680 Purchases 8840 11600 Freight-in 228 Net markups 788 Net markdowns 548 Sales 12240 If the ending inventory is to be valued at approximately the lower of cost or market, the calculation of the cost-to-retail ratio should be based on goods available for sale at (1) cost and (2) retail, respectively of a. $10908 and $14520. b. $10680 and $14280. C. $10908 and $15068. d. $10908 and $14280