Drill Problem 18-16 (Static) [LU 18-2 (1)] From the following, calculate the cost ratio and the cost of ending inventory to the nearest cent under the retail method. (Round the "cost ratio" to the nearest hundredth percent. Round the "cost of ending inventory" to the nearest cent.) Net sales at retail for year Beginning inventory-cost Beginning inventory-retail Purchases-cost Purchases-retail $40, $ 27,000 $ 49,000 $ 14,000 $ 19,00 Cost Retail Beginning inventory Net purchases Cost of goods available for sale Less net sales at retail Ending inventory at retail Cost ratio Ending inventory at cost