The specific identification method of costing inventories tracks the actual physical flow of the goods available for sale.

Question

Quizplus · Accepted Answer

The specific identification method of costing inventories involves the specific identification of each item sold and each item in inventory, allowing for the actual physical flow of goods to be tracked. This method is used when items are unique, such as artwork or customized products.

The Specific Identification Method of Costing Inventories Tracks the Actual