Specific Identification Cost Flow Method, accounting homework help

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Ze.Haxabja

Business Finance

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This is a discussion question that needs to be answer. Please use own words or cite-in-text with reference

The specific identification method matches the cost of sales exactly to the item sold. With perpetual inventory software, a company can be capable of tracking every inventory item. Why would a company choose the LIFO, FIFO or average cost methods?

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The specific goods (or specific identification) method is normally the simplest LIFO approach to
apply and understand. inventory quantities and costs are measured in terms of individual ...


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