Plank Co$.$ uses the retail inventory method. The following information is avallable Tor the current year.

Beginning inventory Cost $$312,000$ Retail $$488,000$

Purchases Cost $$1,180,000$ Retail $$1,660,000$

Freight$-$in $$20,000$

Employee discounts $$8,000$

Net markups $$60,000$

Net markdowns $$80,000$

Sales revenue $$1,560,000$

The approximate cost of the ending inventory by the conventional retail method is

$$392,000$

$$409,920$

$$379,680$

$$383,600$

Question $13(1$ point$)$