Examlex
Which statement is NOT true of business writing?
Specific Identification
A method of inventory costing where each item in inventory is uniquely identified, allowing for the precise tracking of cost of goods sold and inventory levels.
Cost Flow
The manner in which costs move through a company's inventory accounts to eventually become cost of goods sold.
FIFO
An inventory valuation method which assumes that the first goods purchased or produced are also the first ones sold, also known as "First In, First Out."
Ending Inventory
The worth of products ready for purchase at the close of a financial period.
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