MicroApe sells cellphones at a selling price that includes a 65 markup on cost. If a cellphone costs Micro Ape 5300, its selling price is a 391.50 461.54 495.00 None of the above Question 15 point Ir the supplier pays freight charges, then ownership of inventory passes when goods arrive at their destination. True False Question 16 (1 point) The three methods of inventory valuation that are most often used in Canada are specific identification, FIFO, and (moving) weighted average. True False Question 17 ( point) The FIFO method assumes that costs for the most recently purchased items are recovered first. True False