Which inventory method uses the exact cost of each individual item it sells to calculate cost of good sold? Specific identification FIFO LIFO Weighted Average Cost Question 2 1 pts Which inventory method calculates cost of goods sold by assuming the oldest inventory is sold first? FIFO LIFO Specific identification Weighted average cost Question 3 1 pts Which inventory method calculates cost of goods sold by assuming the last inventory purchased is sold first? LIFO FIFO Specific identification Weighted Average Cost ABC Company has inventory on its books that cost $100,000. The current market cost for the inventory if purchased today would be $90,000. True or False, ABC Co should leave the Inventory on its books at $100,000 because that is the historical cost. True False Question 5 2 pts Calculate the Inventory Turnover Ratio for ABC Co using the following information. Your answer should be entered as a number to the nearest single decimal such as 5.1 . Cost of goods sold for 2022=$1,200,000 Inventory on 12/31/2021=$210,000 Inventory on 12/31/2022=$190,000 Question 6 4 pts Calculate the Days to sell using the following information. Your answer should be a entered as a number to the nearest single decimal such as 75.2. Cost of goods sold for 2022=$1,000,000 Inventory on 12/31/2021=$210,000 Inventory on 12/31/2022 =$190,000