22) A company is most likel consists of: 22) y to utilize the specific identification method if its inventory A) Very expensive products. 1) A relatively small number of products. C) Unique products. of the other answers are reasons to utilize the specific identification method 23) The inventory cost low assumption thait is least likely to match the physical fnow of 23) inventory for most companies is: A) FIFO. C) LIFO B) Weighted-average. D) Specific identification. 24) The following information relates to inventory for Shoeless Joe Ine. 24) Quantity 20 15 25 20 Price Date March I March 7 Beginning Inventory Purchase March 11 Sale March 12 Purchase At what amount would Shoeless report ending inventory using FIFO cost flow assumptions? A) $170. D) $70 B)S110 C) $55 25) The following information relates to inventory for Shoeless Joe Inc. 25) Price Date March 1 Beginning Inventory March 7 March 11 Sale March 12 Purchase Quantity 20 15 25 20 $2 Purchase 4 At what amount would Shoeless report gross profit using LIFO cost flow assumptions? A) S175. B) S120. C) $80. D) S105