Overstating the percentage of completion of the ending inventory under weighted-average process-costing will result in overstated profits for the period.

Question

Quizplus · Accepted Answer

Overstating the percentage of completion of the ending inventory leads to higher costs being allocated to completed goods, thus reducing the cost of goods sold and increasing the reported profit for the period.

Overstating the Percentage of Completion of the Ending Inventory Under