Categories
Literature and Communication Economic Theory Aerospace Engineering Human Resource Management Project Management United States Philosophy Pharmacy Accounting Agronomy Advanced Physics Psychology Computer Graphics and Animation Civil procedure Statistics Engineering Materials Basic Electrical Engineering Physics Business Administration Medicine and Pharma Introduction to the Science and Engg Biology The Physics of Everyday Life Methods in Psychology Business Law Financial Management Software Engineering Operating System Engineering Physics Geochemistry Biology & Chemistry Management Fuzzy Intelligence Finance Mathematics Business System Soil Mechanics and Foundations Digital electronics Biochemistry Questions on universities Political sciences Java Programming Behavioural Science Social Psychology Pyhsics and AstroPhysics Security Analysis Biostatistics American (United States) History Engineering Admission tests General Pharmacy Law of Torts Computer science Business Management Data Communication and Computer Networks Analytical Chemistry Management Information Systems Internet and Java Programming Computer Architecture Boilers and Welding Applied Physics Botony Biological Systems Computer Programming Communication Skills Criminal Law Psycology & Sociology Law On Docsity Microeconomics Chemistry Effective Business Communication Object Oriented Programming Statistics for Psychologists Generic Statistics and Economics Professional Communication for Pharmacists Advanced Computer Architecture Consumer Behaviour Job and Internships Computer Fundamentals Electronics and Communication College Physics A Fundamentals of Information Technology History & Philosophy Economics Sociology History Developmental Psychology Languages Network Technologies and TCP/IP Introduction to Business Information System Analysis and Design Fundamentals of Operating Systems Managerial Economics Political Science English Grammar

Explain the inventory costing method of specific identification method.

0 votes

December 27th, 2012 13:40
in Accounting by themask (University of Dayton (OH), General law)

Explain the inventory costing method of specific identification method.

Please help me, i want to know the details of a Specific identification method as inventory costing ethod.

7 Answers
0 votes

December 28th, 2012 09:23
muneb (Amity Business School, Business ethics)
Specific identification is a method of finding out ending inventory cost.

Please log in or register to add a comment.

0 votes

December 28th, 2012 09:39
awais (Guru Ghasidas University, Education)
Specific identification method is just another method to value ending inventory of the business to be reported in the financial statements.

Please log in or register to add a comment.

0 votes

December 28th, 2012 09:51
juni (Netaji Subhas Institute of Technology, General sociology)
SPECIFIC IDENTIFICATION METHOD is an inventory costing method under which the actual cost of a particular item is assigned to that item; used for determining cost of goods sold.

Please log in or register to add a comment.

0 votes

December 28th, 2012 11:22
aabid (Shri Jagdishprasad Jhabarmal Tibrewala University, Information technologies)
Inventory valuation method in which the actual cost of the purchased and issued (used or sold) items is identified by purchase date or a serial number.

Please log in or register to add a comment.

0 votes

December 28th, 2012 11:40
majad (Dayalbagh Educational Institute, Developmental psychology)
In theory, this method is the best method, since it relates the ending inventory goods directly to the specific price they were bought for.

Please log in or register to add a comment.

0 votes

December 28th, 2012 11:47
matii (Agra University, Information technology)
This method is also very hard to use on interchangeable goods.

Please log in or register to add a comment.

0 votes

December 29th, 2012 09:13
sharina (University of Sussex, General physics, phd)
"Specific identification method identifies the cost of particular units sold and those still remaining in ending inventory. Source: http://in.docsity.com/en-docs/Reporting_and_Analyzing_Inventory_-_Principles_of_Accounting_-_Lecture_Notes_"

Please log in or register to add a comment.

Related questions
Subjects