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 | 200 | 120 |
| Feb 7 purchased | 280 | 144 |
| Feb 14 sold | 320 | |
| Feb 21 purchased | 80 | 158 |
| Feb 28 sold | 80 |
What is the value of inventory at 28 February using the periodic weighted Average cost method?
Suggested solutions:
Total No of units purchased: 200 + 280 +80 = 560
Total No of units sold:320 + 80 =400
Balance No of units:160
| Date | unit | Price | Valuation |
| Feb 1 In stock | 200 | 120 | 24,000 |
| Feb 7 purchased | 280 | 144 | 40,320 |
| Feb 21 purchased | 80 | 158 | 12,640 |
| Total units purchased | 560 | 76,960 | |
| Average cost per unit | 560 | 137.43 | 76,960 |
| Balance no of units | 160 | 21,989 |