Plank Co. uses the retail inventory method. The following information is available for the current year.

		Cost		Retail
Beginning inventory		$ 312,000		$488,000
Purchases		1,180,000		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

$409,920.

$383,600.

$379,680.

$392,000.