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    Intermediate Accounting Study Set 9
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    Exam 9: Inventories: Additional Valuation Issues
  5. Question
    A Markup Cancellation Can Exceed the Original Markup but a Markdown
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A Markup Cancellation Can Exceed the Original Markup but a Markdown

Question 129

Question 129

True/False

A markup cancellation can exceed the original markup but a markdown cancellation cannot exceed the original markdown.

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