38.A method of alleeating merchandise cost reqaires each item sold and each item remaining in inventory be separately identitied with respect to its purchase cost is called a. last-in, first-out costing b. first-in. first-out costing c. specific identifikation costing d. weighted-average costing e none of the above 39.A method of allocating merchandise cost that assigns the most recem parchased costs to the ending inventory shown in the balance sheet is called a. last-in, first-out b. flrst-in, first-ou c. specific identification d. weighted-awerage e noee of the above 40.A method of alloeating merchandise cost that assumes the sales in period were made from the recently purchased merchandise and its earliest merchandise bought remain in the inverntory is a. last-in, first-oun b. first-in, first-out c. specific idemification e. none of the above 41. A method of alloeating merchandise cost that is hased on the average cost of identical units is called a. last-in, first-out b. first-in, first-out e, specific identification d. weighted-average 42. The following data applies to a psrticulse item of merchandise 95.1 On hand at start of period l" purchase 2ed purchase 5.20 600 5.50 No. of units available for sale On hand at end of period No. of units sold deeing period Using the first in, firnst-out casting method, the cost of merchandise sold would be . $2,730 b, $8,390 e. $841o d. $3,570 e. nose of the above