A Company Sells a Climbing Kit and Uses the Periodic

Multiple Choice

A company sells a climbing kit 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: If the ending inventory is reported at $357, what inventory method was used?

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