Identify Whether the Entries Below Are an Adjusting Entry (AE)

question 80

Short Answer

Identify whether the entries below are an adjusting entry (AE) or a closing entry (CE).
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Definitions:

Weighted Average

A calculation that takes into account the varying weights of different items in a dataset, commonly used in inventory costing.

Unit Selling Price

The price that a customer pays for one unit of a product or service.

Weighted Average

A calculation that takes into account the varying degrees of importance of the numbers in a data set, giving weight to some numbers more than others.

Unit Contribution Margin

The difference between the selling price per unit and the variable cost per unit.