The weighted average method of inventory valuation divides the cost of material in stock by the no of units is: Select one: a. Sold O b. Purchased during the period O c. Availale for sale O d.credit sales ABC Company purchased office equipments for a total price of $ 2100. One equipment costing $ 800 was damaged and returned to the supplier. The journal entry for the return is Select one: O a. Accounts Payable debit $ 2100; Purchases credit $ 2100 O b. Accounts Payable debit $ 800; Merchandise Inventory credit $ 800 O c. Accounts Payable debit $ 800; Office Equipment credit $ 800 O d. Merchandise Inventory debit $ 800; Accounts Payable credit $ 800 Retailer is a middleman that buys products from manufacturers or wholesalers and sells them to consumers. Select one: : O True False Which type of inventory system is updated inventory system? Select one: a. Periodic inventory system O b. Contingency inventory system c. Perpetual inventory system d. LIFO