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 | 120 | 360 |
| Feb 7 purchased | 200 | 432 |
| Feb 14 sold | 120 | |
| Feb 21 purchased | 120 | 475 |
| 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: 120 + 200 +120 = 440
Total No of units sold:120 + 80 =200
Balance No of units:240
| Date | unit | Price | Valuation |
| Feb 1 In stock | 120 | 360 | 43,200 |
| Feb 7 purchased | 200 | 432 | 86,400 |
| Feb 21 purchased | 120 | 475 | 57,000 |
| Total units purchased | 440 | 186,600 | |
| Average cost per unit | 440 | 424.09 | 186,600 |
| Balance no of units | 240 | 101,782 |