Answer the following statements true (T) or false (F)
1) n the weighted-average inventory costing method, when using the periodic inventory system, a single weighted average cost per unit is computed for the entire period.
2) When using the weighted-average inventory costing method, the dollar amounts for ending inventory and cost of goods sold are the same for both the perpetual and periodic inventory costing methods.
3) An accounting information system collects, records, stores, and processes accounting data to produce information that is useful for decision makers.
4) The collection of time records for company employees is an accounting information system activity that is classified as a business transaction involving the sale of merchandise inventory.
1. TRUE
2. FALSE
3. TRUE
4. FALSE
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