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 | 240 | 240 |
| Feb 7 purchased | 360 | 288 |
| Feb 14 sold | 200 | |
| Feb 21 purchased | 120 | 317 |
| Feb 28 sold | 160 |
What is the value of inventory at 28 February using the periodic weighted Average cost method?
Suggested solutions:
Total No of units purchased: 240 + 360 +120 = 720
Total No of units sold:200 + 160 =360
Balance No of units:360
| Date | unit | Price | Valuation |
| Feb 1 In stock | 240 | 240 | 57,600 |
| Feb 7 purchased | 360 | 288 | 103,680 |
| Feb 21 purchased | 120 | 317 | 38,040 |
| Total units purchased | 720 | 199,320 | |
| Average cost per unit | 720 | 276.83 | 199,320 |
| Balance no of units | 360 | 99,659 |