Asked by
Benjamin Shaffer
on Oct 28, 2024Verified
Which of the following businesses would not be as likely to use the specific identification method of inventory valuation?
A) An automobile dealer.
B) A custom jewelry store.
C) A grocery store.
D) An art dealer.
Specific Identification Method
An inventory costing method that identifies the cost of the specific item that was sold.
Inventory Valuation
The process of determining the cost associated with an entity's inventory at the end of a reporting period.
Grocery Store
a retail establishment that primarily sells food, both fresh and packaged, along with other household goods.
- Understand the fundamental principles of inventory management and controls.
Verified Answer
KV
Learning Objectives
- Understand the fundamental principles of inventory management and controls.