When Using the Cost-To-Retail Ratio for the Retail Inventory Method

When using the cost-to-retail ratio for the retail inventory method,

A) neither net markups nor markdowns are included in the computation of ending inventory for FIFO inventory.
B) net markups but not net markdowns are included in the computation of ending inventory for LIFO inventory.
C) net markups but not net markdowns are included in the computation of ending inventory for lower-of-cost-or- market inventory.
D) net markdowns but not net markups are included in the computation of ending inventory for Average Cost inventory.