Which one of the following inventory valuation statements are correct?

Select one:

a.

The actual cost of goods sold rarely match the cost of goods sold reported under the FIFO or weighted average methods

b.

The desire to increase profits is a good reason to switch from weighted average to FIFO when valuing inventory

c.

The specific identification method is commonly used in grocery stores

d.

Specific identification is commonly used to value customized or easily identifiable products

e.

Well managed businesses try to first sell most recently purchased inventory