Question: 7. With the retail inventory method, how is the total beginning inventory value used in the calculation of the costto retail ratio for the current

7. With the retail inventory method, how is the total beginning inventory value used in the calculation of the costto retail ratio for the current period under the following cost flow assumptions? FIFO Average Cost LIFO I. Include Include Exclude II. Include Exclude Exclude III. Exclude Exclude Exclude IV. Exclude Include Exclude a. I b. II c. III d. IV of the

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