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 | 320 | 160 |
| Feb 7 purchased | 240 | 192 |
| Feb 14 sold | 240 | |
| Feb 21 purchased | 40 | 211 |
| Feb 28 sold | 120 |
What is the value of inventory at 28 February using the cumulative weighted Average cost method?
Suggested solutions:
Total No of units purchased: 320 + 240 +40 = 600
Total No of units sold:240 + 120 =360
Balance No of units:240
| Date | unit | Price | Valuation |
| Feb 1 In stock | 320 | 160 | 51,200 |
| Feb 7 purchased | 240 | 192 | 46,080 |
| 560 | 97,280 | ||
| Feb 14 sold | 240 | ||
| 320 | 55,589 | ||
| Feb 21 purchased | 40 | 211 | 8,440 |
| 360 | 64,029 | ||
| Feb 28 sold | 120 | ||
| 240 | 42,686 |
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