The specific identification cost formula may be used when:
A)goods are interchangeable.
B)goods are not unique.
C)goods can not be distinguished from one another.
D)goods are individually identifiable.

Question

Quizplus · Accepted Answer

The specific identification cost formula is used when goods are individually identifiable, allowing for the precise tracking of the cost associated with each specific item. This method is typically applied to unique or high-value items where each unit can be distinguished from another.

The Specific Identification Cost Formula May Be Used When