Question: Which inventory costing method should a gasoline retailer use? Average cost LIFO FIFO Either LIFO or FIFO Goods that Reeves is holding on consignment for

Which inventory costing method should a gasoline retailer use?
Average cost
LIFO
FIFO
Either LIFO or FIFO
Goods that Reeves is holding on consignment for Parker Company
Goods in transit that Reeves has sold to Smith Company, FOB shipping point
Goods that Reeves is holding in inventory on March 31 for which the related Accounts Payable is 15 days past due

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