The simple rule for inventory turnover is that a low ratio is preferable.

true

false

A low inventory turnover ratio can suggest a company is struggling to sell inventory.

true

false

The four methods used to assign costs to inventory and to cost of goods sold include specific identification,

first$-$in$,$ first$-$out $($FIFO$),$ last$-$in$,$ first$-$out $($LIFO$),$ and weighted average.

true

$($c$)$ false