Add: 58 + 12.97

question 237

Multiple Choice

Add: 58 + 12.97

• A)12.155
• B)70.97
• C)13.55
• D)0.1355
• E) none of the above

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Definitions:

Weighted-Average Method

An inventory costing method that calculates the cost of goods sold and ending inventory based on the average cost of all items available for sale during the period.

First-In, First-Out Methods

An inventory valuation method where the first items produced or purchased are the first ones sold, affecting the cost of goods sold and inventory valuation.

First-In, First-Out Method

An inventory valuation method where the first items placed into inventory are the first ones sold.

Weighted-Average Method

An inventory costing method that calculates the cost of inventory based on the average cost of all similar items in the inventory, considering their weight.