Question 13 4 pts The inventory method that assigns the most recent costs to cost of merchandise sold is: O FIFO OLIFO Average Cost O Specific Identification Question 14 4 pts Anthony Company sold Madison Company merchandise on account FOB shipping point, 2/10, net 30, for $20,000. Anthony prepaid the $300 shipping charge. Which of the following entries does Anthony make to record this sale? Accounts Receivable-Madison, debit $20,000; Sales, credit $20,000 Accounts Receivable-Madison, debit $20,000; Sales, credit $20,000, and Accounts Receivable-Madison, debit $300; Cash, credit $300 Accounts Receivable-Madison, debit $20,500, Sales, credit $20.500 Accounts Receivable-Madison, debit $20,000: Sales, credit $20,000, and Freight expense, debit $300; Cash, credit $300 Question 15 4 pts If merchandise sold on account is returned to the seller, the seller may inform the customer of the details by issuing a: sales invoice purchase invoice O credit memo O debit memo