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Echo Sound Company Just Began Business and Made the Following

Question 117

Multiple Choice

Echo Sound Company just began business and made the following four inventory purchases in June: Echo Sound Company just began business and made the following four inventory purchases in June: A physical count of merchandise inventory on June 30 reveals that there are 210 units on hand. The inventory method which results in the highest gross profit for June is A) the FIFO method. B) the LIFO method. C) the average cost method. D) not determinable. A physical count of merchandise inventory on June 30 reveals that there are 210 units on hand. The inventory method which results in the highest gross profit for June is


A) the FIFO method.
B) the LIFO method.
C) the average cost method.
D) not determinable.

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