DESCRIPTION
Specific Identification is a way to calculate the cost of goods sold and ending inventory by tracking every single unit of inventory and adjusting the balances when inventory is sold and when it is purchased; it would not be suitable for a large amount of goods that are sold or if one item cannot be distinguished from the next item.
Q&A
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Lesson Features
- Lectures 1
- Quizzes 0
- Duration Lifetime access
- Skill level All levels
- Language English
- Students 24
- Certificate No
- Assessments Yes
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Accounting: Specific Identification
