Retail method; gross profit method Selected data on inventory, purchases, and sales for Celebrity Tan Co. and Ranchworks Co. are as follows: Required: Celebrity Tan Co. Estimated Cost of Inventory August 31 \begin{tabular}{|c|c|c|c|} \hline Line Item Description & Ratio & Cost & Retail \\ \hline & & $ & \\ \hline & & & \\ \hline & & $ & \\ \hline Ratio of cost to retail price: & & % & \\ \hline & & & \\ \hline & & & \\ \hline & & & \\ \hline \end{tabular} Ranchworks Co. Estimated Cost of Inventory November 30 \begin{tabular}{|c|c|c|} \hline Line Item Description & Cost & Cost \\ \hline & & \\ \hline & & \\ \hline & & \\ \hline & & \\ \hline & & \\ \hline & & \\ \hline & & \\ \hline \end{tabular} $