A company sells garden hoses and uses the perpetual inventory system to account for its merchandise. The beginning balance of the inventory and its transactions during September were as follows:September 1: Beginning balance of 18 units at $13 eachSeptember 12: Purchased 30 units at $14 eachSeptember 19: Sold 24 units at $30 selling price eachSeptember 20: Purchased 24 units at $17 eachSeptember 27: Sold 27 units at $30 selling price eachIf the ending inventory is reported at $276, what inventory method was used?
A. LIFO method.
B. Retail inventory method.
C. Specific identification method.
D. FIFO method.
E. Weighted average method.
Answer: A
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