Which of the following is not an inventory costing method?

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CHAPTER 6 1. Which of the following is NOT an inventory costing method? A) specific identification B) lower of cost or market
5. Baldwin, Inc. had the following balances and transactions during 2019: Beginning Merchandise Inventory as of January 1, 20

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Chapter 6
1) Correct
Option : B Lower Of Cost or Market
Lower of
cost or market is the inventory valuation method, it is not an
inventory costing method.
2) Correct
Option A Specific Identification
Identification method is based on actual cost of each particular
unit of inventory.
3) Correct
Option : C Last In, First Out
In last in
first out it assume that unit which was purchased recently were
sold firstly
consequently for costing of inventory it uses old purchase
4) Closing
Units = 500+550 -650
value of inventory using first in first out method =400 units
correct option is A
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