To Compute Inventory on a Lower-Of-Cost or Market Basis Using

Multiple Choice

To compute inventory on a lower-of-cost or market basis using the retail inventory method:

A) Markups are excluded in the computation of the cost ratio.
B) Markups and markdowns are included in the computation of the cost ratio.
C) Markups and markdowns are excluded in the computation of the cost ratio.
D) Markdowns are excluded in the computation of the cost ratio.