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Blake Company purchased two identical Inventory Items. The Item purchased first cost $18.00, and the...

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Accounting

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Blake Company purchased two identical Inventory Items. The Item purchased first cost $18.00, and the Item purchased second cost $19.00. Blake s- one of the items for $32.00. Which of the following statements is true? Multiple Choice Ending Inventory will be lower if Blake uses the weighted average cost flow method than if the FIFO cost flow method was used. O O Cost of goods sold will be higher if Blake uses the FIFO cost flow method than if weighted average cost flow method was used. The dollar amount assigned to ending inventory will be the same no matter which cost flow method is used. Gross margin will be higher if Blake uses LIFO than it would be if FIFO were used

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