Question: Which inventory costing method allocates goods available for sale between ending inventory and cost of goods sold based on the actual (real) flow of inventory?

Which inventory costing method allocates goods available for sale between ending inventory and cost of goods sold based on the actual (real) flow of inventory?

1. specific identification

2. LIFO (last-in, first-out)

3. FIFO (first-in, first-out)

4. average costing

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