Match each description to the appropriate cost flow assumption (a-d).
-Cost flow matches the unit sold to the unit purchased.
A)Weighted average
B)First-in, first-out (FIFO)
C)Last-in, first-out (LIFO)
D)Specific identification

Question

Quizplus · Accepted Answer

Specific identification matches the cost of the unit sold to the cost of the specific unit purchased, allowing for precise tracking of inventory costs.

Match Each Description to the Appropriate Cost Flow Assumption (A-D)