The inventory method that assigns the most recent costs to cost of merchandise sold is

weighted average

FIFO

specific identification

LIFO

The entry to record the return of merchandise from a customer would include a

debit to Sales

debit to Customer Refunds Payable

debit to Estimated Returns Inventory

credit to Sales

The entry to record the return of merchandise from a customer would include a

debit to Sales

debit to Customer Refunds Payable

debit to Estimated Returns Inventory

credit to Sales