Which one of the following inventory costing methods can lead to manipulation of reported income?
A)FIFO
B)LIFO
C)Average cost
D)Specific identification

Question

Quizplus · Accepted Answer

Specific identification allows for the manipulation of reported income because it enables a company to choose which specific items are sold, potentially selecting higher or lower cost items to influence the cost of goods sold and thus reported income.

Which One of the Following Inventory Costing Methods Can Lead