Which of the following is NOT an inventory costing method?

Question

Quizplus · Accepted Answer

The option "lower of cost or market" is not an inventory costing method, but rather a method used to adjust the value of inventory that has declined in value below its original cost. The other options - specific identification, last-in, first-out, and first-in, first-out - are all inventory costing methods that determine how the cost of inventory is assigned to goods sold and remaining inventory.

Which of the Following Is NOT an Inventory Costing Method