Which of the following is a reason for not using the specific identification method?
A)It is impractical to keep track of the purchase and sale of individual items.
B)Deciding which of many identical items sold would be arbitrary.
C)Deciding whether lower or higher-priced identical items sold could be a means of manipulating income.
D)All of these are reasons for not using the specific identification method.

Question

Quizplus · Accepted Answer

All of these are reasons for not using the specific identification method. It may be impractical to keep track of individual items, deciding which identical items were sold may be arbitrary, and selecting the cost of lower or higher-priced items sold could be used to manipulate income. Therefore, using the specific identification method might not be feasible or practical for a company.

Which of the Following Is a Reason for Not Using