Trekking Company markets a climbing kit and uses a perpetual inventory system toaccount for its merchandise. The beginning balance of the inventory and transactionsduring January were as follows:January 1Balance20 units at $14January 4 Purchased 30 units at $15January 23 Sold35 units at $30January 30 Purchased 10 units at $16January 31 Sold20 units at $30If the ending inventory is valued at $80, what inventory cost flow assumption was used?O A. Average costing.O B. FIFO.O C. Weighted average.O D. Specific identification.O E. Retail

Name: Trekking Company markets a climbing kit and uses a perpetual inventor
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Description: Trekking Company markets a climbing kit and uses a perpetual inventory system toaccount for its merchandise. The beginning balance of the inventory and transactionsduring January were as follows:January 1Balance20 units at $14January 4 Purchased 30

Introduction:- Inventory valuation methods used find out amount of value unsold inventory stock at…

Answered: If the ending inventory is valued at…

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If the ending inventory is valued at $80, what inventory cost flow assumption was usec O A. Average costing. O B. FIFO. O C. Weighted average. O D. Specific identification. O E. Retail

Intermediate Accounting: Reporting And Analysis

3rd Edition

ISBN:9781337788281

Author:James M. Wahlen, Jefferson P. Jones, Donald Pagach

Publisher:James M. Wahlen, Jefferson P. Jones, Donald Pagach

Chapter7: Inventories: Cost Measurement And Flow Assumptions

Section: Chapter Questions

Problem 12RE: Carla Company uses the perpetual inventory system. The following information is available for...

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