A company markets a climbing kit and uses the perpetual inventory system to account for its merchandise. The beginning balance of the inventory and its transactions during January were as follows: If the ending inventory is reported at $276, which inventory method was used?
A)LIFO method
B)FIFO method
C)Weighted average method
D)Specific identification method
E)Retail inventory method

Question

A company markets a climbing kit and uses the perpetual inventory system to account for its merchandise. The beginning balance of the inventory and its transactions during January were as follows:  If the ending inventory is reported at $276, which inventory method was used?
A)LIFO method 
B)FIFO method 
C)Weighted average method 
D)Specific identification method 
E)Retail inventory method

Quizplus · Accepted Answer

The Answer of A company markets a climbing kit and uses the perpetual inventory system to account for its merchandise. The beginning balance of the inventory and its transactions during January were as follows:  If the ending inventory is reported at $276, which inventory method was used?
A)LIFO method 
B)FIFO method 
C)Weighted average method 
D)Specific identification method 
E)Retail inventory method

A Company Markets a Climbing Kit and Uses the Perpetual