Quantum-mechanical calculations of electron magnetotransport in ideal graphene nanoribbons are presented. In noninteracting theory, it is predicted that an ideal ribbon that is attached to wide leads should reveal Fabry-Perot conductance oscillations in magnetic field. In the theory with Coulomb interaction taken into account, the oscillation pattern should rather be determined by the Aharonov-Bohm interference effect. Both of these theories predict the formation of quasi-bound states, albeit of different structures, inside the ribbon because of strong electron scattering on the interfaces between the connecting ribbon and the leads. Conductance oscillations are a result of resonant scattering via these quasibound states.