Question: Please I need help with this question Cloverdale, Inc., uses the conventional retail inventory method to account for inventory. The following information relates to current

Please I need help with this question

Cloverdale, Inc., uses the conventional retail inventory method to account for inventory. The following information relates to current year's operations:

	Cost		Retail
Beginning inventory and purchases	$	354,000	$	553,000
Net markups				37,000
Net markdowns				27,000
Net sales				494,000

What amount should be reported as cost of goods sold for the year?

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