Which of the following attributes would NOT need to be included in a query (or set of queries) to determine Cost of Goods Sold (COGS) for an income statement according to the weighted average inventory costing method?
A) Beginning date for income statement period for which COGS is needed
B) Actual unit costs of each inventory item on each purchase
C) Quantities sold of each inventory item on each sale
D) Actual unit selling prices of each inventory item on each sale
E) Quantities purchased of each inventory item on each purchase

Question

Quizplus · Accepted Answer

The actual unit selling prices of each inventory item on each sale are not needed to calculate COGS using the weighted average inventory costing method. COGS is determined by the cost of inventory, not the selling price.

Which of the Following Attributes Would NOT Need to Be