A Company Sells a Climbing Kit and Uses the Perpetual

Multiple Choice

A company sells 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, what inventory method was used?

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