The Beta Company uses the retail inventory method for the valuation of its inventory. It an item had a cost of $45, was originally marked to sell at $60, was later priced at $55, and finally was priced at $68, the resulting price change is a

a. net markup of $13,

b. net markdown of $5 and markup of $8.

c. net markdown of zero and markup of $8.

d. net markup of $23.