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College Accounting, Chapters 1-27

23rd Edition
HEINTZ + 1 other
ISBN: 9781337794756

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BuyFindarrow_forward

College Accounting, Chapters 1-27

23rd Edition
HEINTZ + 1 other
ISBN: 9781337794756
Textbook Problem

What two factors are taken into account by the weighted-average method of merchandise cost allocation?

To determine

Indicate two factors that are taken into account by the weighted average method of merchandise cost allocation.

Explanation

Weighted-average cost method: Under average cost method inventories are priced at the average of all available inventories. Average cost is the quotient of total cost of goods available for sale and total units available for sale.

The following formula is used to calculate the weighted average cost:

Weighted average cost=Total cost&

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