Question: Describe the weighted average cost inventory cost method. Explain and provide examples of real-life inventory that would be used for the weighted average cost inventory

Describe the weighted average cost inventory cost method. Explain and provide examples of real-life inventory that would be used for the weighted average cost inventory cost method. When prices are rising, explain how Ending Inventory amounts and Net Income for a company would be affected (higher or lower) for the weighted average cost method.

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