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, 2013: 
Required:
Compute the net markups for Cindy Lou Linens during 2013.
Definitions:
George Ritzer
An American sociologist known for his work on consumerism, globalization, and the McDonaldization of society.
Max Weber
A foundational figure in sociology known for his theory on the Protestant ethic and the spirit of capitalism, and his contributions to the understanding of social authority, bureaucracy, and social stratification.
Glocalization
The practice of conducting business according to both local and global considerations, blending global objectives with local cultures and practices.
Multinational Chain Stores
Retail outlets that operate locations in multiple countries, offering standardized products or services across their locations.
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