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 | 160 |
| Feb 7 purchased | 120 | 192 |
| Feb 14 sold | 280 | |
| Feb 21 purchased | 200 | 211 |
| Feb 28 sold | 280 |
What is the value of inventory at 28 February using the periodic weighted Average cost method?
Suggested solutions:
Total No of units purchased: 280 + 120 +200 = 600
Total No of units sold:280 + 280 =560
Balance No of units:40
| Date | unit | Price | Valuation |
| Feb 1 In stock | 280 | 160 | 44,800 |
| Feb 7 purchased | 120 | 192 | 23,040 |
| Feb 21 purchased | 200 | 211 | 42,200 |
| Total units purchased | 600 | 110,040 | |
| Average cost per unit | 600 | 183.4 | 110,040 |
| Balance no of units | 40 | 7,336 |