Step 1: Concept
If $a, b, c$ are in A.P., then $2b = a + c$. By the Sine Rule, $a = 2R\sin A$, so equivalently $2\sin B = \sin A + \sin C$.
Step 2: Meaning
Using sum-to-product identities: $4\sin\frac{B}{2}\cos\frac{B}{2} = 2\sin\frac{A+C}{2}\cos\frac{A-C}{2}$. Since $\frac{A+C}{2} = 90^\circ - \frac{B}{2}$, this gives $2\sin\frac{B}{2} = \cos\frac{A-C}{2}$.
Step 3: Analysis
Expand the target expression:
\[\cos A + \cos C + 2\cos B = 2\cos\!\tfrac{A+C}{2}\cos\!\tfrac{A-C}{2} + 2\!\left(1-2\sin^2\!\tfrac{B}{2}\right).\]
\[= 2\sin\!\tfrac{B}{2}\cdot 2\sin\!\tfrac{B}{2} + 2 - 4\sin^2\!\tfrac{B}{2} = 4\sin^2\!\tfrac{B}{2} + 2 - 4\sin^2\!\tfrac{B}{2} = 2.\]
Step 4: Conclusion
Therefore $\cos A + 2\cos B + \cos C = 2$.
Final Answer: (B)