All of the Following Correctly Describe the Average Cost Inventory

Multiple Choice

All of the following correctly describe the average cost inventory cost flow method except:

A) A moving average cost is used with a perpetual inventory system only.
B) The average cost methods are based on the view that the cost of inventory on hand and the cost of goods sold during a period should be representative of all purchase costs available for the period.
C) A weighted-average unit cost is used with a periodic inventory system only.
D) A moving average cost is used with either a periodic or a perpetual inventory system.