A custom boat shop would probably cost its inventory using the:
A)LIFO method of inventory costing.
B)FIFO method of inventory costing.
C)moving average method of inventory costing.
D)specific-identification method of inventory costing.

Question

Quizplus · Accepted Answer

A custom boat shop would likely have unique and specialized items in its inventory, making the specific-identification method of inventory costing the most appropriate. This method involves identifying and tracking the cost of each individual item in inventory, rather than using an average or assuming a first-in, first-out or last-in, first-out approach. This would provide the most accurate representation of the shop's inventory value.

A Custom Boat Shop Would Probably Cost Its Inventory Using