s) Which of the following is NOT a benefit of the Specific Identification method of trackinginventory?The value of each inventory item is more accurate than other methods.Many inventory items can be carefully tracked at the same time.O Costs can be assigned directly to each inventory item.O Each inventory item can be separately tracked.

Answered: s) Which of the following is NOT a…

FINANCIAL ACCOUNTING

10th Edition

ISBN:9781259964947

Author:Libby

Publisher:Libby

Chapter1: Financial Statements And Business Decisions

Section: Chapter Questions

Problem 1Q

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s) Which of the following is NOT a benefit of the Specific Identification method of tracking
inventory?
The value of each inventory item is more accurate than other methods.
Many inventory items can be carefully tracked at the same time.
O Costs can be assigned directly to each inventory item.
O Each inventory item can be separately tracked.

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The specific identification method represents that the inventory is valued and tracked on an individual basis. Each unit of inventory is tracked individually by the company.

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