When Using the Weighted-Average Cost Method to Determine the Cost

question 33

Multiple Choice

When using the weighted-average cost method to determine the cost of inventory sold,the weighted-average cost per unit is calculated as the:

• A) cost of goods available for sale divided by the number of units available for sale
• B) cost of goods sold divided by the average number of units in inventory
• C) cost of goods sold divided by the number of units sold
• D) cost of goods in ending inventory divided by the number of units in ending inventory

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Definitions:

Servant Leadership

A leadership philosophy that prioritizes the well-being and development of team members, with leaders serving as supporters rather than controllers.

Stewardship

The responsibility of managing or looking after something, often implying a commitment to wise and ethical management of resources or organizations.

Leadership Role

The function or position of leading a group or organization, entailing responsibilities such as guidance, direction, and decision-making.

Foresight

The ability to anticipate future events, trends, or outcomes and plan accordingly.