60 66 58 63 which of the methods in b above 1 2 3 or

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60% 66% 58% 63% Which of the methods in (b) above (1, 2, 3, or 4) does the following? Excluding markdowns but including markups Excluding markdowns but including markups Excluding markdowns but including markups Compute ending inventory at lower-of-cost-or-market (round to nearest dollar). $ 56,961.77 Compute cost of goods sold based on (d). $ 123,038.23 Compute gross margin based on (d). $ 62,961.77 (Lower-of-Cost-or-Market) Cost Replacement Cost Sales Price Net Realizable Value Aluminum siding $ 70,000 $ 62,500 $ 64,000 $ 56,000 Cedar shake siding 86,000 79,400 94,000 84,800 Louvered glass doors 112,000 124,000 186,400 168,300 Thermal windows 140,000 126,000 154,800 140,000 Total $408,000 $391,900 $499,200 $449,100 Instructions cost replacement cost NRV (ceiling) (b) 1. Excluding both markups and markdowns. 2. Excluding markups but including markdowns. 3. Excluding markdowns but including markups. 4. Including both markdowns and markups. (c) 1. Provides the most conservative estimate of ending inventory. 2. Provides an approximation of lower-of-cost-or-market. 3. Is used in the conventional retail method.
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