Question: Using the retail inventory method, when is the cost-retail ratio based only on the cost and retail amounts in beginning inventory? O A. When

Using the retail inventory method, when is the cost-retail ratio based only on the cost and retail amounts in beginning inventory? O A. When FIFO is used and sales are less than purchases at retail. B. When FIFO is used and sales exceed purchases at retail. C. O D. When LIFO is used and sales exceed purchases at retail. When LIFO is used and sales are less than purchases at retail.

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