I noticed grading periods was an upcoming feature in Canvas. Playing around with the feature in the beta release, I did not see any way that weights could be added to the grading periods. For example, in our school district, quarter 1 is worth 37.5% of the grade, quarter 2 is worth 37.5% of the grade and the final exam is worth 25% of the grade.
This is not a huge deal for us; we can work around it. But I imagine there may be other school districts that need the ability to weight the grading periods when issuing the final grade for the full year.