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.