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Cindy Lou Linens uses the conventional retail method to estimate its ending inventories. The company...

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Cindy Lou Linens uses the conventional retail method to estimate its ending inventories. The company records sales net of employee discounts. The following partial data has been summarized for the year ended December 31, 2018 Cost Retail 375,468 $ 646,000 1, 322,000 2,254,000 Inventory, January 1 Purchases Net markups Net markdowns Normal spoilage Employee discounts Net sales Inventory, Dec. 31 47,300 42,300 74,700 1,958,000 815,100 472,758 Required Compute the net markups for Cindy Lou Linens during 2018 Net markups

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