I am able to horizontally center my image items inside my divs, but how do I achieve this vertically too?
Important to note the image height may vary.
http://jsfiddle.net/7b3mu9wt/5/
li {
  float: left;
  width: 195px;
  height: 195px;
  border: 1px solid black;
  list-style-type: none
}
li div {
  text-align: center
}
<ul>
  <li>
    <div>
      <img class="logo" src="http://placehold.it/50x50" />
    </div>
  </li>
  <li>
    <div>
      <img class="logo" src="http://placehold.it/50x100" />
    </div>
  </li>
</ul>