Which of the following statements about the weighted average cost inventory cost flow method is true? a.
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Question:
Which of the following statements about the weighted average cost inventory cost flow method is true?
a. For a series of purchases, the average cost is different, regardless of the price trends.
b. It yields a higher amount of gross profit compared to the first-in, first-out (FIFO) method in inflationary situations.
c. The ending inventory is valued at the rate of the most recent purchase.
d. The cost of the units sold and in ending inventory is an average of the purchase costs.
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