Is Supported by a File of Job- Cost Records for Partially

question 53

Multiple Choice

is supported by a file of job- cost records for partially completed jobs.

• A) The WIP Inventory account
• B) The Finished- Goods Inventory account
• C) The Direct- Materials Inventory account
• D) The Cost of Goods Sold account

---

Definitions:

Weighted Average Cost

A method of calculating the total cost of goods sold or assets that weighs each item's cost proportionately.

Face Value

The original value or principal amount of a security as stated by the issuer.

Weighted Average Cost

A method of calculating the average cost of inventory or cost of goods sold by weighting each item by its relevance or quantity.

Cost of Equity

The yield a business seeks to determine whether an investment fulfills its requirements for capital returns, frequently calculated through methods such as the Capital Asset Pricing Model (CAPM).