The LEAST widely used of the four inventory valuation methods is:
A)FIFO.
B)LIFO.
C)average cost.
D)specific-identification.

Question

Quizplus · Accepted Answer

Specific-identification is the least widely used inventory valuation method as it requires tracking and assigning specific costs to individual units of inventory, which can be time-consuming and challenging to implement in practice. Most companies opt for FIFO, LIFO, or average cost methods as they are simpler and easier to apply.

The LEAST Widely Used of the Four Inventory Valuation Methods