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Discuss identification rather than lifo or fifo

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Reference no: EM131755082

Given the increased automation in nearly every business with inventory (think of the last time you bought something without a barcode), the costs of the specific identification method are becoming significantly cheaper than they had been. Do you think that all businesses will be using a specific identification method eventually? What are the advantages and drawbacks of using specific identification rather than LIFO or FIFO?

Reference no: EM131755082

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