To determine the cost of inventory sold, accountants use one of the following inventory valuation methods Specific Average identification cost FIFO LIFO Irwin/McGraw-Hill ?The McGraw-Hill Companies, Inc., 1999?The McGraw-Hill Companies, Inc., 1999 Irwin/McGraw-Hill Specific identification LIFO Average cost FIFO To determine the cost of inventory sold, accountants use one of the following inventory valuation methods