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Cloverdale, Inc., uses the conventional retail inventory method to account for inventory. The following information relates to current year's operations: Beginning inventory and purchases Net markups Net markdowns Net sales Cost Retail $342,000 $528,000 42,000 32,000 504,000 What amount should be reported as cost of goods sold for the year? Multiple Choice None of these answer choices de correct $319,977 $321600 Nould be reported as cost of goods sold for the year? Multiple Choice None of these answer choices are correct $319,977 G O $321,600 $320,387