Question 5 Take me to the text Not checked Use the following information to calculate the estimated closing inventory at cost by using the retail method. Marked out of 2.00 Item At Cost At Retail Flag Cost of Goods Sold question Opening Inventory $3,000 $6,000 Purchases $44,000 $96,000 Cost of Goods Available for Sale $47,000 $102,000 Sales at Retail $49,500 Closing Inventory at Retail $52,500 Do not enter dollar signs or commas in the input boxes. Round the Cost-to-Retail Ratio to 1 decimal place (i.e. 72.3%). Cost-to-Retail Ratio = % Round your answer to the nearest whole number. Closing Inventory At Cost = $ Check