Pinkston Company purchased two identical inventory items. One of the items, purchased in January, cost $18.00. The other, purchased in February, cost $19.00. One of the items was sold in March at a selling price of $30.00. Select the correct answer assuming that Pinkston uses a LIFO cost flow. 7. A. The balance in ending inventory would be $19.00. B. The amount of gross margin would be $11.00. C. The amount of ending inventory would be $18.50. D. The amount of cost of goods sold would be $18.00