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9:37
Study.com
Sherri Hartzell
Inventory Valuation Methods: Specific Identification, FIFO, LIFO & Weighted Average
Inventory valuation methods are ways that companies place a monetary value on the items they have in their inventory. Discover different inventory valuation methods, including specific identification, First-In-First-Out (FIFO), Last-In-First-Out (LIFO), and weighted average.
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Answered: Inventory valuation methods are based on the systematic cash flow of adding and removing inventory costs. Each method has its advantages and disadvantages. When… | bartleby
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