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