If the purchase prices of units in an inventory are marked on each unit, the most accurate method of determining the value of the closing inventory is:

Question

Quizplus · Accepted Answer

The most accurate method of determining the value of the closing inventory when purchase prices are marked on each unit is by using the actual purchase price of each unit. This method directly reflects the specific cost associated with each item in the inventory, providing the most precise valuation.

If the Purchase Prices of Units in an Inventory Are