Data below for the year ended December 31, 2018, relates to Houdini Inc. Houdini started business January 1, 2018, and uses the LIFO retail method to estimate ending inventory.

	Cost			Retail
Beginning inventory	$	84,000		$	124,000
Net purchases		400,960			580,000
Net markups					36,000
Net markdowns					56,000
Net sales					519,000

Current period cost-to-retail percentage is:

Multiple Choice

• 71.6%.

• 67.7%.

• 65.1%.

• 70.9%.