Question

The weighted average cost method uses the Blank______ cost for Cost of Goods Sold on the income statement and the Blank______ cost for Inventory on the balance sheet. Multiple choice question.

Answer 1

The weighted average cost method uses the weighted average cost for the cost of goods sold on the income statement and the weighted average cost for inventory.

What is the cost of goods sold?

The cost of goods sold refers to the carrying value of goods sold for a particular period.

The weighted average cost method uses the weighted average cost for the cost of goods sold on the income statement and the weighted average cost for inventory on the balance sheet.

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Answer 2

The weighted average cost method uses the financing cost for Cost of Goods Sold on the income statement and the total cost for Inventory on the balance sheet.

What is the weighted average cost?

This can be referred to mean the calculated cost of capital of a firm where all of the capital is weighted in a proportional manner.

The whole sources of this capital are known to be used when carrying out this calculation.

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