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 | 320 | 160 |
| Feb 7 purchased | 200 | 192 |
| Feb 14 sold | 120 | |
| Feb 21 purchased | 80 | 211 |
| Feb 28 sold | 320 |
What is the value of inventory at 28 February using the periodic weighted Average cost method?
Suggested solutions:
Total No of units purchased: 320 + 200 +80 = 600
Total No of units sold:120 + 320 =440
Balance No of units:160
| Date | unit | Price | Valuation |
| Feb 1 In stock | 320 | 160 | 51,200 |
| Feb 7 purchased | 200 | 192 | 38,400 |
| Feb 21 purchased | 80 | 211 | 16,880 |
| Total units purchased | 600 | 106,480 | |
| Average cost per unit | 600 | 177.47 | 106,480 |
| Balance no of units | 160 | 28,395 |