Hoover Company Purchased Two Identical Inventory Items

Multiple Choice

Hoover Company purchased two identical inventory items.The item purchased first cost $33.00.The item purchased second cost $35.00.Then Hoover sold one of the inventory items for $62.00.Based on this information,which of the following statements is true?

A) The ending inventory is $35.00 if Hoover uses the LIFO cost flow method.
B) The gross margin is $28.00 if Hoover uses the weighted-average cost flow method.
C) The cost of goods sold is $35.00 if Hoover uses the FIFO cost flow method.
D) The cost of goods sold is $33.00 if Hoover uses the LIFO cost flow method.