17) Which of the following inventory costing methods results in the highest value of ending inventory during a period of rising inventory costs? A) weighted average B) first-in, first-out C) last-in, first-out D) specific identification 18) Shipman, Inc. has 7 units in inventory on December 31. The units were purchased in November for $190 each. The price lists from suppliers indicate the current replacement cost of the item to be $186 each. What is the effect on gross profit if Shipman values its ending merchandise inventory using the lower-of-cost-or-market rule? A) The gross profit would increase by $28. B) The gross profit would decrease by $28. C) The gross profit would not be affected. D) The gross profit would increase by $4. 19) Samson, Inc. had the following balances and transactions during 2017: Beginning Merchandise Inventory March 10 June 10 October 30 25 units at $91 Sold 22 units Purchased 75 units at $97 Sold 69 units What is the amount of the company's Merchandise Inventory, as disclosed in the December 31 2017 balance sheet as per the periodic FIFO inventory costing method? A) $873 B) $582 C) $546 D) $2,275