A store that sells expensive custom-made jewelry is most likely to determine its cost of goods sold using:
A)Specific identification.
B)Average cost.
C)First-in,first-out.
D)Last-in,last-out.

Question

Quizplus · Accepted Answer

Specific identification is the best method for a store selling expensive custom-made jewelry because each piece of jewelry is unique and has its own cost. Therefore, the store can accurately track the cost of each individual piece of jewelry sold.

A Store That Sells Expensive Custom-Made Jewelry Is Most Likely