Questions

1. In calculating a weighted average unit cost, what is the "weight" based on?

2. It is allowable for a company to use different unit costing method for different categories of inventory. True or false.

3. A business may frequently change its unit costing method depending on the financial results generated by the various methods each period. True or false.

4. List the two criteria that an investment must meet to be classified as a cash equivalent.

5. List two documents typically contained in a voucher package.