Weiss Company purchased two identical inventory items. The first purchase cost $64 and the second cost $66. The company sold one of the items for $74. If the company uses the LIFO cost flow method, the balance in the inventory account after the sales transaction will be:

Multiple Choice

$65.

$66.

$64.

$8.

Weiss Company purchased two identical inventory items. The first purchase cost $64 and the second cost $66. The company sold one of the items for \$74. If the company uses the LIFO cost flow method, the balance in the imventory account ofter the sales transaction will be: Mutiple Choice $65 $66 $64 58