Cloverdale, Inc., uses the conventional retail inventory method to account for inventory. The following information relates to current year's operations: Beginning inventory and purc Net markups Net markdowns Net sales Cost Retail $342,000 $528,000 42,000 32,000 504,000 What amount should be reported as cost of goods sold for the year? Multiple Choice $320,387. $319,977. $321,600. None of these answer choices are correct