FINANCIAL ACCOUNTING
FINANCIAL ACCOUNTING
10th Edition
ISBN: 9781259964947
Author: Libby
Publisher: MCG
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Question
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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Transcribed Image Text: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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