The inventory valuation method that tends to smooth out erratic changes in costs is:
FIFO.
Weighted average.
LIFO.
Specific identification.
WIFO

Physical counts of inventory:
Are not necessary under the perpetual system.
Are necessary to measure and adjust for inventory shrinkage.
Must be taken at least once a month.
Requires the use of hand-held portable computers.
Are not necessary under the cost-to benefit constraint.

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Weighted Average: as the name implies, it takes the average price per unit of inventory. The result is to smooth en the fluctuations in price level