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 | 200 | 240 |
| Feb 7 purchased | 120 | 288 |
| Feb 14 sold | 360 | |
| Feb 21 purchased | 200 | 317 |
| Feb 28 sold | 80 |
What is the value of inventory at 28 February using the cumulative weighted Average cost method?
Suggested solutions:
Total No of units purchased: 200 + 120 +200 = 520
Total No of units sold:360 + 80 =440
Balance No of units:80
| Date | unit | Price | Valuation |
| Feb 1 In stock | 200 | 240 | 48,000 |
| Feb 7 purchased | 120 | 288 | 34,560 |
| 320 | 82,560 | ||
| Feb 14 sold | 360 | ||
| -40 | -10,320 | ||
| Feb 21 purchased | 200 | 317 | 63,400 |
| 160 | 53,080 | ||
| Feb 28 sold | 80 | ||
| 80 | 26,540 |
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