Mokena Company uses the retail method to approximate the average cost of its ending inventory. During the current period, the company changes the selling price of its inventory from the date of acquisition to the end of the period.
Which of the following will be included in the denominator of the calculation of the cost-to-retail percentage?

a) Net markups and net markdowns
b) Neither net markups nor net markdowns
c) Net markups, but not net markdowns
d) Net markdowns, but not net markups

answerblank(1); fixed interval; blank(2) fixed ratio;

two years ago, when picking flowers in the mountains back of yosemite valley, i found a book. it was blotted and storm-beaten; all of its outer pages were mealy and crumbly. the paper seemed to dissolve like the snow beneath which it had been buried, however; many of the inner pages were well preserved. and although all were more or less stained and torn, whole chapters were easily readable. this is the condition of the great open book of yosemite glaciers today; its granite pages have been torn and blurred by the same storms that wasted the castaway book.

two years ago, when picking flowers in the mountains back of yosemite valley; i found a book. it was blotted and storm-beaten, all of its outer pages were mealy and crumbly. the paper seemed to dissolve like the snow beneath which it had been buried, however, many of the inner pages were well preserved. and although all were more or less stained and torn; whole chapters were easily readable. this is the condition of the great open book of yosemite glaciers today, its granite pages have been torn and blurred by the same storms that wasted the castaway book.