Specific Identification Must Be Used for Inventory Valuation Where the Inventory

question 161

Short Answer

Specific Identification must be used for inventory valuation where the inventory items are not interchangeable under $\begin{array} { l l l } & \underline{ \text {GAAP }} & \underline{ \text { IFRS }} \\\end{array}$
A) $\begin{array} { l l l } &\text { Yes } & &\text { No } \\\end{array}$
B) $\begin{array} { l l l } &\text { Yes } && \text { Yes } \\\end{array}$
C) $\begin{array} { l l l }& \text { No } && \text {No } \\\end{array}$
D) $\begin{array} { l l l } &\text { No } && \text {Yes }\end{array}$

• A)\(\begin{array} { l l l } &\text { Yes } & &\text { No } \\\end{array}\)
• B)\(\begin{array} { l l l } &\text { Yes } && \text { Yes } \\\end{array}\)
• C)\(\begin{array} { l l l }& \text { No } && \text {No } \\\end{array}\)
• D)\(\begin{array} { l l l } &\text { No } && \text {Yes }
• \end{array}\)

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