CFA Practice Question

There are 520 practice questions for this study session.

CFA Practice Question

Which method matches the physical flow of the specific inventory items sold to their actual historical cost?

A. Specific identification method
B. FIFO
C. Weighted average method
D. LIFO
Correct Answer: A

User Contributed Comments 6

User Comment
weehongw what is a specific identification method?
reganbaha it's the method where you specifically identify things
gill15 What's specific identification method? Method where you specifically identify things.

Funniest answer EVER.
vatsal92 Haha @reganbaha! Specific identification method is the method in which unit sold is matched with unit's cost.
Inaganti6 If you got this question wrong there's no hope for you.
ashish100 ^ don't listen to this guy.
You need to log in first to add your comment.