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:
net markup of $18
markdown of $5 and a markup of $8
net markdown of zero and an additional markup of $3
net markdown of $5 and a net markup of $18