Asked by
ashley collazo
on Oct 16, 2024
Verified
The weighted average method matches the costs of inventory items with the revenue generated by the sale of the inventory items.
Weighted Average Method
An inventory costing method that assigns a cost to inventory items based on the weighted average cost of all similar items purchased or produced during a period.
Inventory Items
Goods or materials that a company holds for the ultimate goal of resale or production.
- Perceive the consequences of adopting various inventory costing strategies (FIFO, LIFO, Weighted Average) on financial reports.
Verified Answer
FA
Learning Objectives
- Perceive the consequences of adopting various inventory costing strategies (FIFO, LIFO, Weighted Average) on financial reports.
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