Penfold's Paints uses the average cost retail method to estimate its ending inventories. The following data has been summarized for the year 2013: 
Required:
Compute the cost-to-retail percentage used by Penfold's Paints.
Definitions:
Divorce Actions
Legal proceedings initiated by one or both spouses to legally terminate their marriage.
Paternity Suits
Legal actions initiated to determine the paternity of a child, typically for purposes of securing child support from the father.
Traffic Violations
Offenses committed by drivers violating laws regulating vehicle operation on roads and highways.
Administration of Wills
The process of managing and executing a deceased person's will, including the distribution of their estate.
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