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A Company Markets a Climbing Kit and Uses the Perpetual

Question 171

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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:
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 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

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