Question: In the retail inventory method, what does the term mark-up mean? Markup on original cost Markup on NRV Markup on lower of cost or NRV

In the retail inventory method, what does the term mark-up mean? Markup on original cost Markup on NRV Markup on lower of cost or NRV Markup on retail value

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In the retail inventory method, what does the term mark-up mean? Markup on original cost Markup on NRV Markup on lower of cost or NRV O Markup on retail value

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