Health Defense Sells First Aid Kits and Uses the Periodic

Multiple Choice

Health Defense sells first aid kits and uses the periodic inventory system to account for its merchandise. The beginning balance of the inventory and its transactions during January were as follows: January 1: Beginning balance of 18 units at $13 each January 12: Purchased 30 units at $14 each
January 19: Sold 24 units at a selling price of $30 each January 20: Purchased 24 units at $17 each
January 27: Sold 27 units at a selling price of $30 each
If the ending inventory is reported at $357, what inventory method was used?

A) Retail inventory method.
B) Weighted average.
C) Specific identification.
D) FIFO.
E) LIFO.