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Match the inventory valuation methods with their descriptions.
1. specific identification
2. first-in-first out (FIFO)
3. last-in-first-out (LIFO)
4. weighted average
A. Assumes that newest inventory is used prior to previously acquired inventory. ______
B. Assumes inventory is commingled and value is based on mean costs. ______
C. Inventory is matched with items of inventory with its specific cost _____
D. Assumes oldest inventory is used before newer inventory.
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