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Information about inventory for Talmart Company is as follows: Cost Retail Beg. Inventory(1/1/2020)$50,000$80,000 Netpurchases$320,000$450,000 Netmarkups25,000 Net markdowns10,000 Netsales400,000 Talmart uses the conventional retail method. What

Information about inventory for Talmart Company is as follows:

CostRetail

Beg. Inventory(1/1/2020)$50,000$80,000

Netpurchases$320,000$450,000

Netmarkups25,000

Net markdowns10,000

Netsales400,000

Talmart uses the conventional retail method. What is the cost of goods sold for 2020?

A $298,245

B $292,982

C $300,000

D None of the other options are correct.

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