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3 years ago

When using the specific identification inventory method, cost of goods sold equals the ______.

1 answer:

4 0

With the specific identification inventory method, the Cost of Goods Sold equals the exact costs of the items sold.

The specific identification inventory method tracks each sold item to record its cost. The Cost of Goods Sold includes only the actual cost of the items sold and not an average or assumed cost.

The specific identification inventory method is not like the:

FIFO (First-in, First-out) method that assumes that items sold are from the first inventories in the store
LIFO (Last-in, First-out) method that assumes that items sold are from the last inventories in the store
Weighted-average method that takes the average cost for all the items in store to determine the cost of goods sold.

Thus, the specific identification method ensures that the Cost of Goods Sold equals the actual cost of the goods.

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valentinak56 [21]

Answer:

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Explanation:

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3 years ago

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Snowcat [4.5K]

Answer:

E) none of the above

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Explanation:

We multiply probability by the outcome to get the weighted amount, we add them and get the expected return.

probability outcome weighted

0.25 0.10 0.0250

0.45 0.12 0.0540

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We now subtract the possible outcome with the expected return and square them:

(0.127-0.1)^2

(0.127-0.12)^2

(0.127-0.16)^2

Then we add them and divide by the sample which is 3

0.000622

²√ 0.000622 = 0.024944383

Final step, will be the square root which gives the standard deviation

of 2.49% = 0.024947

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