8. The inventory method that considers the inventory to be composed of the units of merchandise acquired latest is called a. first-in, first-out b. last-in, first-out c. average cost d. retail method 9. The inventory data for an item for November are: Nov(1)4101730InventorySoldPurchasedSoldPurchased20unitsat$2010units30unitsat$2120units10unitsat$22 Using the perpetual system, costing by the first-in, first-out method, what is the cost of the merchandise inventory of 30 units on November 30 ? a. $640 b. $610 c. $620 d. $630 10. The inventory data for an item for November are: Using the perpetual system, costing by the last-in, first-out method, what is the cost of the merchandise inventory of 30 units on November 30 ? a. $640 b. $610 c. $620 d. $630