Under which costing method is cost of good sold not systematically determined?
A)LIFO
B)FIFO
C)Average
D)Specific identification

Question

Quizplus · Accepted Answer

Under the specific identification method, the cost of goods sold is not systematically determined because each individual item is assigned a specific cost that is tracked separately from all other items in inventory. This method is typically only feasible for businesses with a smaller number of unique, high-value items, as it would not be practical for businesses with a large number of similar items.

Under Which Costing Method Is Cost of Good Sold Not