Which of the following inventory methods physically links the particular items sold with the actual cost of goods sold for the items sold?
A)FIFO
B)LIFO
C)Weighted-average
D)Specific identification
E)FIFO and LIFO

Question

Quizplus · Accepted Answer

Specific identification method physically links the particular items sold with the actual cost of goods sold for the items sold as it uses item-by-item identification of the cost of goods sold. This method is typically used for products with unique or distinguishable characteristics.

Which of the Following Inventory Methods Physically Links the Particular