d 26 out of The most conservative approach to LCM is using which basis? a. Individual b. Aggregate C. FIFO d. LIFO n 27 ed out of on The Gateway Company's physical inventory at 12/31 was $10,000. In addition, two n-transit items existed: A $350 item purchased from a vendor; FOB Shipping A $200 item sold to a customer; FOB Shipping. The 12/31 Inventory for the balance sheet is: Select one: a. $10,000 Ob. $10,350 c. $10,200 d. $10,550 e. $10,150