1. Connecticut Corporation disassembles old automobiles for the purpose of reselling their components (i.e. different types of metals, plastics, rubber, and other materials). Connecticut sells some of the items for scrap, but must pay to dispose of environmentally hazardous plastics and rubber. At year-end, Connecticut Corporation has a difficult time determining the cost of the individual parts that are stacked in piles. In fact, it would be very expensive to even weigh some of the materials on hand. Connecticut has followed the practice of having two experienced employees estimate the weight of the different stacks and then price them based on quotes found in trade journals. If Connecticut must pay to dispose of an item, it is assigned a value of zero. In other words, Connecticut does not value its inventory using standard FIFO or LIFO methods. Is such a practice acceptable?