Oriole Co. uses the retail inventory method. The following information is available for the current year. Cost Retail Beginning inventory $ 305000 $486000 1300000 1720000 Purchases 26000 Freight-in 7600 Employee discounts 67000 Net markups 80000 Net markdowns Sales revenue 1480000 The approximate cost of the ending inventory by the conventional retail method is (Hint: Round intermediate calculation to 3 decimal places, e.g. 0.635 and final answer to 0 decimal places.) O $385000. O $ 705400. O $505066. O $ 985196