Your organisation uses the cumulative weighted average cost method of valuing inventories. During the month , the following inventory details were recorded.
| Date | unit | Price |
| Feb 1 In stock | 280 | 80 |
| Feb 7 purchased | 120 | 96 |
| Feb 14 sold | 280 | |
| Feb 21 purchased | 320 | 106 |
| Feb 28 sold | 360 |
What is the value of inventory at 28 February using the cumulative weighted Average cost method?
Suggested solutions:
Total No of units purchased: 280 + 120 +320 = 720
Total No of units sold:280 + 360 =640
Balance No of units:80
| Date | unit | Price | Valuation |
| Feb 1 In stock | 280 | 80 | 22,400 |
| Feb 7 purchased | 120 | 96 | 11,520 |
| 400 | 33,920 | ||
| Feb 14 sold | 280 | ||
| 120 | 10,176 | ||
| Feb 21 purchased | 320 | 106 | 33,920 |
| 440 | 44,096 | ||
| Feb 28 sold | 360 | ||
| 80 | 8,017 |
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