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 | 320 |
| Feb 7 purchased | 240 | 384 |
| Feb 14 sold | 240 | |
| Feb 21 purchased | 320 | 422 |
| 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 + 240 +320 = 760
Total No of units sold:240 + 80 =320
Balance No of units:440
| Date | unit | Price | Valuation |
| Feb 1 In stock | 200 | 320 | 64,000 |
| Feb 7 purchased | 240 | 384 | 92,160 |
| Feb 21 purchased | 320 | 422 | 135,040 |
| Total units purchased | 760 | 291,200 | |
| Average cost per unit | 760 | 383.16 | 291,200 |
| Balance no of units | 440 | 168,590 |