LeMay Department Store uses the retail inventory method to estimate ending inventory for its monthly financial statements The following data pertain to one of its largest departments for the month of March 2021 Cost Retail Beginning inventory $ 48,000 $ 68,000 Purchases 215,000 408,000 Freight in 26,194 Purchase returns 8,000 6,000 Net markups 6,600 Net markdowns 4,300 Normal breakage 6,000 Net sales 288,000 Employee discounts 2,600 Sales are recorded net of employee discounts Recompute the cost to retail percentage using the average cost method (Round your percentage answer to 2 decimal places (i e , 0 1234 should be entered as 12 34 ) ) Cost to retail percentage

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Question: LeMay Department Store uses the retail inventory method to estimate ending inventory for its monthly financial statements. The following data pertain to one of its

LeMay Department Store uses the retail inventory method to estimate ending inventory for its monthly financial statements. The following data pertain to one of its largest departments for the month of March 2021:

		Cost		Retail
Beginning inventory	$	48,000	$	68,000
Purchases		215,000		408,000
Freight-in		26,194
Purchase returns		8,000		6,000
Net markups				6,600
Net markdowns				4,300
Normal breakage				6,000
Net sales				288,000
Employee discounts				2,600

Sales are recorded net of employee discounts.

Recompute the cost-to-retail percentage using the average cost method. (Round your percentage answer to 2 decimal places (i.e., 0.1234 should be entered as 12.34%).)

Cost-to-retail percentage:

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