The inventory coding method that reports the most current prices in ending inventory is FIFO Specific identification LIFO Average cost The inventory costing method that reports the earliest costs in ending inventory is FIFO LIFO Average cost Specific identification Addison, Inc. uses a perpetual inventory system. The following is information about one inventory item for the month of September: Sep. 1 Inventory 20 units at $20 4 Sold 10 units 10 Purchased 30 units at $25 17 Sold 20 units 30 Purchased 10 units 1t $30 If Addison uses FIFO, the cost of the ending merchandise inventory on September 30 is $800 $650 $750 $700 If Addison uses LIFO, the cost of the ending merchandise inventory on September 30 is $800 $650 $750 $700 If the cost of an item of inventory is $50 and the current replacement cost is $57, the amount included in inventory according to the lower of cost or market is $7 $50 $57 $107 The cash account in the company's ledger is a(n) asset with a debit balance asset with a credit balance liability with a debit balance liability with a credit balance Journal entries based on the bank reconciliation are required in the company's accounts for o utstanding checks deposits in transit bank errors book errors