rane Company, which uses the retail LIFO method to determine inventory cost, has provided the following information for 2020:

		Cost		Retail
Inventory, 1/1/20		$ 270000		$408000
Net purchases		1014000		1566000
Net markups				192000
Net markdowns				78000
Net sales				1470000

Assuming stable prices (no change in the price index during 2020), what is the cost of Crane's inventory at December 31, 2020? (Hint: Round intermediate calculation to 2 decimal places, e.g. 0.63 and final answer to 0 decimal places.)

$396000.

$370800.

$385500.

$391800.