Evidently uses the inventory valuation method

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Reference no: EM13824116

10th Generation Electronics had two transformers in its inventory, one purchased in February for $11,800 and the other acquired in September for $13,300. In December, they sold one of the transformers to Ram Enterprises for $16,400 and reported a gross profit of $3,100. 10th Generation Electronics evidently uses the ________ inventory valuation method.

A. FIFO

B. LIFO

C. Average

D. Flexplus

Reference no: EM13824116

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