Rodric & Partners Ltd. uses a periodic inventory system and the average cost retail method to estimate ending inventory and cost of goods sold. The following data is available from the company records for the month of December 2020. Beginning inventory Net purchases Net markups Net markdowns Net sales Cost Retail $ 180,000 $ 320,000 750,000 1,416,000 X 36,000 1,248,000 Given that the ending inventory at cost is $306,000. What is the amount of net markups? $160,000 $180,000 $120,000 $140,000