A method of valuing inventory based on the costs for each individual item is called the:

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The specific cost method involves valuing inventory based on the specific cost of each individual item, rather than calculating an average cost or making assumptions about which items were sold first (FIFO) or last (LIFO). This method provides the most accurate picture of inventory value, but can be time-consuming to implement and track.

A Method of Valuing Inventory Based on the Costs for Each