each of the flow assumptions discus

each of the flow assumptions discussed below necessarily requires a trade-off between asset valuation and income determination. four generally accepted methods are used to account for the flow of goods from purchase to sale: (1) specific identification; (2) first in, first out;(3) last in,first out; and (4) averaging.if an exact matching of expenses and revenues is the primary objective of inventory valuation, then specific identification of each item of merchandise sold

each of the flow assumptions discussed below necessarily requires a trade-off between asset valuation and income determination. four generally accepted methods are used to account for the flow of goods from purchase to sale: (1) specific identification; (2) first in, first out; (3) last in, first out; and (4) averaging.
if an exact matching of expenses and Revenues is the primary Objective of inventory valuation, then specific identification of each item of merchandise sold