Question: Explain how inventories are valued? Specific identification method Weighted average method First-in, first-out (FIFO) method Last-in, last-out (LIFO) method Gross

Explain how inventories are valued?

– Specific identification method

– Weighted average method

– First-in, first-out (FIFO) method

– Last-in, last-out (LIFO) method

– Gross profit method

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