Which of the four inventory cost flow assumptions is best suited to inventories of high-priced, low-volume items?

Question

Quizplus · Accepted Answer

Specific cost identification is the best suited for inventories of high-priced, low-volume items because each item is individually identified and costed, allowing for accurate tracking and management of the inventory. This method is often used for items with unique attributes, such as art and antiques, rather than goods with identical attributes, such as widgets in a factory setting.

Which of the Four Inventory Cost Flow Assumptions Is Best