Which of the Following Statements Regarding the Calculations Used for the Weighted

question 91

Multiple Choice

Which of the following statements regarding the calculations used for the weighted average inventory costing method is true?

• A) Under the weighted average cost method, if the goods in inventory were purchased at three different prices, the three different prices would be added and then divided by three to find the weighted average cost per unit.
• B) When the weighted average inventory costing method is used, ending inventory and cost of goods sold are calculated using different costs per unit.
• C) There is no difference in the calculations under the weighted average method whether a perpetual or periodic inventory system is used.
• D) The weighted-average method will produce an inventory cost which is between the results of FIFO and LIFO

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Definitions:

Extension

Extension is a movement that increases the angle between two body parts, such as straightening a flexed knee.

Bending Forward

A physical movement where the upper body moves closer to the legs, often used in exercises or as a stretch.

Shrugging Shoulders

A movement involving elevation of the shoulders, often as a gesture of indifference or to activate specific muscles in the upper body.

Biaxial Joint

A type of synovial joint that allows movement around two axes, providing a greater range of motion, such as seen in the wrist or ankle.