The Beta Company uses the retail inventory method for valuation of its inventory.If an item had a cost of $45, was originally marked to sell at $60, was later priced at $55, and finally was priced at $63, the final price change is a

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The final price change from the original $60 to $63 is an additional markup of $3. The initial markdown from $60 to $55 and subsequent markup back to $63 does not result in a net markdown, as the final selling price is above the original price.

The Beta Company Uses the Retail Inventory Method for Valuation