Question: How does the retail inventory method establish the lower - of - cost - or - market valuation for ending inventory? Question 3 options: The

How does the retail inventory method establish the lower-of-cost-or-market valuation for ending inventory?
Question 3 options:
The procedure is applied on a cost basis at the unit level.
By excluding net markdowns from the cost-to-retail ratio.
By excluding beginning inventory from the cost-to-retail ratio.
By excluding net markups from the cost-to-retail ratio.

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