Under the LIFO retail method, which of the following are not included in the denominator of the cost-to-retail conversion percentage?
A.	Freight-in.
B.	Purchase returns.
C.	Purchases.
D.	Net markdowns.
Answer:A
Under the LIFO retail method, which of the following are not included in the denominator of the cost-to-retail conversion percentage?
A.	Freight-in. B.	Purchase returns. C.	Purchases. D.	Net markdowns.