Pharoah Company, which uses the retail LIFO method to determine inventory cost, has provided the following information for 2017: Cost Retail Inventory, 1/1/17 $ 274000 $412000 Net purchases 1054000 1606000 Net markups 196000 Net markdowns 82000 Net sales 1510000 Assuming stable prices (no change in the price index during 2017), what is the cost of Pharoah's inventory at December 31, 2017? (Hint: Round intermediate calculation to 2 decimal places, e.g. 0.63 and final answer to 0 decimal places.) $391600. $379420. $402100. $395800.

Pharoah Company, which uses the retail LIFO method to determine inventory cost, has provided the following information for 2017: Cost Retail $ 274000 Inventory, 1/1/17 $412000 1054000 1606000 Net purchases 196000 Net markups Net markdowns 82000 1510000 Net sales Assuming stable prices (no change in the price index during 2017), what is the cost of Pharoah's inventory at December 31, 2017? (Hint: Round intermediate calculation to 2 decimal places, e.g. 0.63 and final answer to 0 decimal places.) $ 391600. $ 379420. $ 402100. $ 395800