The inventory costing method that identifies the invoice cost of each item in the ending inventory in order to determine the cost assigned to inventory is the specific identification method.

Name: The inventory costing method that identifies the invoice cost of each item in the ending inventory in order to determine the cost assigned to inventory is the specific identification method.
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Question

Quizplus · Accepted Answer

The specific identification method assigns the actual cost of each item to determine the cost of ending inventory.

The Inventory Costing Method That Identifies the Invoice Cost of Each