Assuming that the Little 3 Company uses the perpetual inventory system, determine the cost of merchandise sold for the sale of March 18 using the LIFO inventory cost method. a. $3, 240 b. $2, 160 c. $2, 592 d. $2, 538 Assuming that the Little 3 Company uses the perpetual inventory system, determine the gross profit for the, sale of March 21 using the FIFO inventory cost method. a. $1, 296 b. $2, 160 c. $1, 944 d. $3, 240 Assuming that the Little 3 Company uses the perpetual inventory system, determine the ending inventory for the month of March using the LIFO inventory cost method. a. $5, 832 b. $5, 760 c. $6, 696 d. $6, 552 Assuming that the Little 3 Company uses the perpetual inventory system, determine the cost of merchandise. sold for the sale of March 18 using the FIFO inventory cost method. a. $2, 592 b. $2, 448 c. $3, 240 d. $2, 160 Assuming that the Little 3 Company uses the perpetual inventory system, determine the Gross Profit for the month of March using the LIFO cost method. a. $7, 992 b. $6, 408 c. $4, 968 d. $5, 724 Under the ___ inventory method, accounting records maintain a continuously updated inventory value. a. periodic b. perpetual c. physical d. retail Assuming that the Little 3 Company uses the perpetual inventory system, determine the cost of merchandise sold for the sale of March 18 using the LIFO inventory cost method. a. $3, 240 b. $2, 160 c. $2, 592 d. $2, 538 Assuming that the Little 3 Company uses the perpetual inventory system, determine the gross profit for the, sale of March 21 using the FIFO inventory cost method. a. $1, 296 b. $2, 160 c. $1, 944 d. $3, 240 Assuming that the Little 3 Company uses the perpetual inventory system, determine the ending inventory for the month of March using the LIFO inventory cost method. a. $5, 832 b. $5, 760 c. $6, 696 d. $6, 552 Assuming that the Little 3 Company uses the perpetual inventory system, determine the cost of merchandise. sold for the sale of March 18 using the FIFO inventory cost method. a. $2, 592 b. $2, 448 c. $3, 240 d. $2, 160 Assuming that the Little 3 Company uses the perpetual inventory system, determine the Gross Profit for the month of March using the LIFO cost method. a. $7, 992 b. $6, 408 c. $4, 968 d. $5, 724 Under the ___ inventory method, accounting records maintain a continuously updated inventory value. a. periodic b. perpetual c. physical d. retail