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 | 240 | 320 |
| Feb 7 purchased | 280 | 384 |
| Feb 14 sold | 40 | |
| Feb 21 purchased | 280 | 422 |
| Feb 28 sold | 320 |
What is the value of inventory at 28 February using the cumulative weighted Average cost method?
Suggested solutions:
Total No of units purchased: 240 + 280 +280 = 800
Total No of units sold:40 + 320 =360
Balance No of units:440
| Date | unit | Price | Valuation |
| Feb 1 In stock | 240 | 320 | 76,800 |
| Feb 7 purchased | 280 | 384 | 107,520 |
| 520 | 184,320 | ||
| Feb 14 sold | 40 | ||
| 480 | 170,142 | ||
| Feb 21 purchased | 280 | 422 | 118,160 |
| 760 | 288,302 | ||
| Feb 28 sold | 320 | ||
| 440 | 166,911 |
To do the same topic again in ACCA F3 Inventory
To do another topic in ACCA F3
2015 ACCA F3 INVENTORY