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 | 280 | 120 |
| Feb 7 purchased | 40 | 144 |
| Feb 14 sold | 200 | |
| Feb 21 purchased | 240 | 158 |
| Feb 28 sold | 40 |
What is the value of inventory at 28 February using the periodic weighted Average cost method?
Suggested solutions:
Total No of units purchased: 280 + 40 +240 = 560
Total No of units sold:200 + 40 =240
Balance No of units:320
| Date | unit | Price | Valuation |
| Feb 1 In stock | 280 | 120 | 33,600 |
| Feb 7 purchased | 40 | 144 | 5,760 |
| Feb 21 purchased | 240 | 158 | 37,920 |
| Total units purchased | 560 | 77,280 | |
| Average cost per unit | 560 | 138 | 77,280 |
| Balance no of units | 320 | 44,160 |