The Baby Super Store uses the average cost retail inventory method to determine its ending inventory. The accounting records for the current year for the Baby Super Store contained the following information: 
In addition, the accounting records for Baby Super Store disclosed that freight-in charges were $6,700. What is the cost-to-retail percentage to be used for ending inventory calculations?
Definitions:
Inventory Investment
The purchase of goods and materials that are not immediately sold but are kept in stock for future sales or production.
Level of Inventory
The quantity of goods, materials, and products held in stock by a business at a specific point in time.
Disposable Income
Post-income tax financial means available to households for saving and spending.
Control
in the context of management and business, refers to the process of regulating activities and verifying that everything is proceeding according to plan, to ensure the achievement of goals.
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