SPECIFIC IDENTIFICATON INVENTORY VALUATION is a method of valuing and tracking inventory where each item can be identified. Specific identification is most often used for large, easily traceable items, such as furniture or vehicles. If tracking each individual inventory item is not practical, the inventory can be valued using other accepted methods, such as the first-in, first-out method (FIFO) or the last-in, first-out method (LIFO).
SPOT RATE is the price at which a currency can be purchased or sold and then delivered within two business days, e.g., spot dollar.
BUSINESS RISK see OPERATING RISK.
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