List and Describe the Different Filing Methods for the Physical

question 28

Essay

List and describe the different filing methods for the physical file/health record.

---

Definitions:

Specific Identification

An inventory costing method where individual costs are assigned to specific items of inventory, often used for unique or high-value items.

Identical Units

Units of product that are the same in every aspect, often used in inventory management and costing methods.

Inventory Costing Method

A system used to value inventory, such as First-In, First-Out (FIFO) or Last-In, First-Out (LIFO), impacting the calculation of cost of goods sold and ending inventory.

LIFO

Last In, First Out; an inventory valuation method where the last items placed in inventory are the first ones to be used or sold.