A Business estimates ending inventory using the CONVENTIONAL Retail Method. COST RETAIL Beginning inventory $38,000 $95,000 Purchases $68,500 $171,250 Markups $11,000 Markdowns $6,000 Sales $107,000 Which of the following statements are true? Select ALL correct answers, incorrect answers are penalized. The Ending Inventory at cost using the ratio, rounded to two decimal places, equals $69,610. The cost/retail ratio, rounded to two decimal places, equals 40.00% The cost/retail ratio, rounded to two decimal places, equals 41.11% The Ending Inventory at cost using the ratio, rounded to two decimal places, equals $ 67,517. The Ending Inventory at cost using the ratio, rounded to two decimal places, equals $63,088. The Ending Inventory at cost using the ratio, rounded to two decimal places, equals $65,700. The cost/retail ratio, rounded to two decimal places equals, 42.38% The cost/retail ratio, rounded to two decimal places, equals 38.41%