In specific identification, which one is not true?
A)The specific purchase invoice prices are used
B)Flow of goods and flow of cost are the same
C)Ending inventory is associated with specific purchase prices
D)Low-cost items are often used in this method
E)None of these

Question

Quizplus · Accepted Answer

Low-cost items are not often used in specific identification as it would be impractical and time-consuming to track the cost of each individual low-cost item. This method is typically used for high-value items with unique or distinguishable characteristics.

In Specific Identification, Which One Is Not True