To produce an inventory valuation which approximates the lower of cost or market using the conventional retail inventory method, the computation of the ratio of cost to retail should
a. include markups but not markdowns.
b. include markups and markdowns.
c. ignore both markups and markdowns.
d. include markdowns but not markups.
Answer: a. include markups but not markdowns.
Business
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a. individuals b. business c. financial institutions d. a and c e. none of the above
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One-way tabulation can do all of the following, EXCEPT:
a. determine the amount of non-response to individual questions in a questionnaire. b. tabulate responses to one question against those to another question. c. locate mistakes in data entry. d. construct one-way frequency tables. e. profile sample respondents.
Business