The weighted average costing method calculates an average unit cost which is applied to finished goods and work in process inventory.

Name: The weighted average costing method calculates an average unit cost which is applied to finished goods and work in process inventory.
Brand: Quizplus
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Question

Quizplus · Accepted Answer

The weighted average costing method averages the costs of goods available for sale and assigns this average cost to both ending inventory and the cost of goods sold, applying it to both finished goods and work in process inventory.

The Weighted Average Costing Method Calculates an Average Unit Cost