I have the latest version of iTunes and want to convert  files to MP3 - how do I do that?

I have iTunes  11.0.4 which is upgraded from 11.0.12 and I have the same problem I had before the upgrade.  The choice to convert files to MP3 no longer exists per the instructions.  Does anyone who works for Apple know how to do this?  Why would Apple take this feature away?  It was really helpful.
I will have to start using the Amazon Cloud Player if iTunes can't get this resolved.  Help!!!  I love the old iTunes, but the new one ***** - does anyone know how to overcome this problem without 3rd party software?
Thanks!

Set up your preferred import format under Edit > Preferences > General > Import Settings, then right click on a selection of tracks to convert. If you want to permanently change the format, discarding the originals, while preserving ratings, play counts and playlist membership, then try my script ConvertFormat.
tt2

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