Match each description to the appropriate cost flow assumption (a-d).
-The cost of the units sold and in ending inventory is a weighted average of the purchase costs.
A)Weighted average
B)First-in, first-out (FIFO)
C)Last-in, first-out (LIFO)
D)Specific identification

Question

Quizplus · Accepted Answer

The description matches with the weighted average cost flow assumption where the cost of the units sold and in ending inventory is a weighted average of the purchase costs.

Match Each Description to the Appropriate Cost Flow Assumption (A-D)