Please answer.

Warehouse Goods began business on January 1, 2020. During 2020, Warehouse Goods recorded the following:

Purchases of inventory, at cost: $400,000

Purchases of inventory, at retail value: $800,000

Net Markups $200,000

Net Markdowns $400,000

Sales $300,000

Warehouse Goods applies the conventional retail inventory method.

What amount of gross profit will Warehouse Goods report on its 2020 Income Statement?

-None of other answer choices is correct

-$12,000

-$18,000

-$20,000