Your organisation uses the periodic weighted average cost method of valuing inventories. During the month , the following inventory details were recorded.
| Date | unit | Price |
| Feb 1 In stock | 280 | 40 |
| Feb 7 purchased | 80 | 48 |
| Feb 14 sold | 360 | |
| Feb 21 purchased | 200 | 53 |
| Feb 28 sold | 80 |
What is the value of inventory at 28 February using the periodic weighted Average cost method?
Suggested solutions:
Total No of units purchased: 280 + 80 +200 = 560
Total No of units sold:360 + 80 =440
Balance No of units:120
| Date | unit | Price | Valuation |
| Feb 1 In stock | 280 | 40 | 11,200 |
| Feb 7 purchased | 80 | 48 | 3,840 |
| Feb 21 purchased | 200 | 53 | 10,600 |
| Total units purchased | 560 | 25,640 | |
| Average cost per unit | 560 | 45.79 | 25,640 |
| Balance no of units | 120 | 5,495 |