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Question 7 Review each description and choose the inventory valuation formula the company is most likely using: specific identification, FIFO or average cost. . The cost per unit at any point in time is determined by dividing the cost of goods available for sale by the units available for sale. b. The value of the ending inventory of the company is based on the last goods purchased. " The company's inventory is homogenous, with older goods being sold before the shelves are restocked. The company manufactures cardboard boxes for sale to moving companies and self-move truck rental companies. . Each item of inventory is specially marked with its unit cost and inventory items are tracked individually. T. The cost of the oldest goods on hand is allocated to the cost of goods first. 9. The company sells high unit per unit products that are unique. Question Attempts: 0 of 1 used SAVE FOR LATER SU