With the Retail Inventory Method, How Is the Total Beginning

question 55

Multiple Choice

With the retail inventory method, how is the total beginning inventory value used in the calculation of the cost-to-retail ratio for the current period under the following cost flow assumptions? $\begin{array}{lll}&\text { FIFO }&\text { Average Cost }&\text { LIFO }\\I.&\text { Include } & \text { Include } & \text { Exclude } \\II.&\text { Include } & \text { Exclude } & \text { Exclude } \\III.&\text { Exclude } & \text { Exclude } & \text { Exclude } \\IV.&\text { Exclude } & \text { Include } & \text { Excluide }\end{array}$

• A)I
• B)II
• C)III
• D)IV

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