Fad City sells novel clothes that are subject to a great deal of price volatility. A recent item that cost $2130 was marked up $12.50, marked down for a sale by $6.80 and then had a markdown cancellation of $3.30. The latest selling price is: Multiple Choice $28.10 $30 30 O $3310 o $3710 Lacy's Linen Mart uses the average cost retail method to estimate inventories. Data for the first six months of 2021 include: beginning inventory at cost and retail were $60,000 and $120,000, net purchases at cost and retail were $312,000 and $480,000, and sales during the first six months totaled $490,000. The estimated Inventory at June 30, 2021, would be: Multiple Choice $68,200 $55,000 $71.500 $63.250 Cloverdale, Inc., uses the conventional retail inventory method to account for inventory. The following information relates to current year's operations: Beginning inventory and purchases Net markups Net markdowns Net sales Cost Retail $377,000 $541,000 39,000 29,000 498,000 What amount should be reported as cost of goods sold for the year? Multiple Choice $340,737 $340,067 $342.550 None of these answer choices are correct