How much is the markdown and it's markdown rates based on original selling price if an item has an original selling price of P420.00 and new selling price of P380.00?

Intermediate Accounting: Reporting And Analysis
3rd Edition
ISBN:9781337788281
Author:James M. Wahlen, Jefferson P. Jones, Donald Pagach
Publisher:James M. Wahlen, Jefferson P. Jones, Donald Pagach
Chapter7: Inventories: Cost Measurement And Flow Assumptions
Section: Chapter Questions
Problem 10MC: When the double-extension approach to the dollar-value LIFO inventory cost flow method is used, the...
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How much is the markdown and it's markdown rates based on original selling price if an item has an original selling price of P420.00 and new selling price of P380.00?show computation in two decimal places

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