[Solved] Littleton Company uses a periodic inventory system and the LIFO retail method to estimate its ending inventories.The following partial data has been summarized for December 31,2016: Required: Determine the cost-to-retail percentage used by Littleton.Assume stable retail prices during the period. Assumption Of The Risk: A defense whereby the defendant must prove that the plaintiff voluntarily assumed the risk the defendant caused. Res Ipsa Loquitur: A doctrine in tort law implying negligence inferred from the nature of an accident or injury, without direct proof. Direct Evidence: Information or testimony that directly proves a fact, without needing inference or assumptions. Communications Decency Act: A section of United States law primarily aimed at regulating pornography on the Internet, with broader implications for online speech and liability protections for Internet service providers.