Which inventory cost flow assumption is most often used by businesses that sell a limited number of high-priced items?

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Specific identification is most often used by businesses that sell a limited number of high-priced items, such as car dealerships or art galleries. This method assigns the actual cost of each item in inventory to the cost of goods sold, rather than using a cost flow assumption like FIFO, LIFO, or average cost.

Which Inventory Cost Flow Assumption Is Most Often Used by Businesses