Accounting Dictionary - Letter S

A B C D E F G H I J K L M N O P Q R S T U V W X Y Z
Specific identification
is an actual physical flow inventory costing method in which items still in inventory are specifically cost to arrive at the total cost of the ending inventory. This method is normally used by entities producing inventory with significant costs such as vessels in the ship building industry.
Go Back
Don't see the term you are looking for? Try searching our entire website:
Not a member?
See why people join our
online accounting course: