A company uses the periodic inventory system and had the following activity during the current monthly period. Date November 1 November 5 Purchase November November 8 Purchase 16 November 19 O $3,420 $5,544 Activities $2,504 Beginning inventory $3,040 $3,916 Sales Purchase Units Acquired at Units Sold at Cost Retail 152 units @ $20 = $3,040 Using the weighted-average inventory method, the company's ending inventory would be: 126 units @ $22 = $2,772 76 units @ $23 = $1,748 76 units @ $25 = $1,900 252 units @ $45

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Inventory Valuation

Before discussing the topic inventory valuation let’s discuss the meaning of inventory. In accounting, inventory is also known as stock. Inventory means all the finished goods, materials, merchandise that a business holds for the purpose of selling it in the market with the motive of earning profit.