During a period of filling price which of the following inventory method generally results in the lowest balance about amount for inventory average method LIFO method FIFO method cannot tell without more information. During the taking of its physical inventory on December 31. 2010 Barry's Bike shop incorrectly counted its inventory at $270.000 instead of the correct amount of $190.000 The effort on the balance and income statement would be as follows. Assets over stands by $90,000 retained earning understand by $50,000 net income statement understated by $90,000. Assets over stands by $90,000 retained earning understand by $80,000 no effect on the income statement. Assets and retained overstated by $80,000 net income over stand by $80,000. Assets and retained overstated by $80,000 net income understands by $80,000. Too much inventory as bound reduces solving increases the cost to safeguard the assets. Increases the loses due to price declines. All the above. Garrison company uses the retail method of inv inventory coding. They started the year with an inventory that had a retail cost of $45,000. During the year they purchased an inventory with a retail cost of $300,00. After performing a physical inventory. They calculated their inventory cost to be $60,000. The makeup is 100% of cost. Determine the ending inventory at its estimated cost $160,000 $80,000 $40,000 $45,000 Which of the following methods is appropriate for a business whose inventory consists of a relatively small number of unique, high-cost? FIFO LIFO average specific identification item Under a periodic inventory system accounting records continuously disclose the amount of inventory a separate inventory is declined when goods are returned to verbs. Which of the following is used to analyze the efficiency of inventory management? Inventory turnover only member of day's sales in inventory only both inventory turnover and number of day's sales in inventory neither inventory turnover or number of day's sales inventory Which of the following the length of time to acquire, sell and replace inventory? Inventory turnover number of day's sales inventory retail method of inventory costing gross profit method of inventory costing