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Under the LIFO retail method, the denominator in the cost-to-retail percentage includes: Multiple Choice: Net markdowns, but not net markups. Net markups and net markdowns.

Under the LIFO retail method, the denominator in the cost-to-retail percentage includes:

Multiple Choice:

Net markdowns, but not net markups.

Net markups and net markdowns.

Net markups, but not net markdowns.

Neither net markups nor net markdowns.

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