inventory? 10) In computing ending inventory at retail, net markdowns are always included in the computation. (True/False) 11) The following information applied to ABC, Inc. for 2020: Merchandise purchased for resale Freight-in Freight-out $410,000 8,000 5,000 2 h Purchase returns 3,000 ABC's 2020 inventoriable cost was? 12) In a period of rising prices which inventory method generally provides the greatest amount of net income