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Cindy Lou Linens Uses the Conventional Retail Method to Estimate

Question 35

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Cindy Lou Linens uses the conventional retail method to estimate its ending inventories.The company records sales net of employee discounts.The following partial data has been summarized for the year ended December 31,2016:
Cindy Lou Linens uses the conventional retail method to estimate its ending inventories.The company records sales net of employee discounts.The following partial data has been summarized for the year ended December 31,2016: Required: Compute the net markups for Cindy Lou Linens during 2016.
Required:
Compute the net markups for Cindy Lou Linens during 2016.

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