Cloverdale, Inc., uses the conventional retail inventory method to account for inventory. The following information relates to current year's operations:

	Cost	Retail
Beginning inventory and purchases	$377,000	$541,000
Net markups		39,000
Net markdowns		29,000
Net sales		498,000

What amount should be reported as cost of goods sold for the year?

30. value points 5.00 Cloverdale, Inc., uses the conventional retail inventory method to account for inventory. The following information relates to current year's operations: Retail Cost 3377000 $541,000 Beginning inventory and purchases 39,000 Net markups 29,000 Net markdowns 498,000 Net sales What amount should be reported as cost of goods sold for the year? O $340,067 O $3401737 O $342,550. O None of these answer Cholces are Correct