A company uses the periodic inventory system and had the following activity during the current monthly period: November 1: November 5: November 8: November 16: November 19: Beginning inventory Purchased Purchased Sold Purchased 100 units @ $20 100 units @ $22 50 units@ $23 200 units@ $45 50 units @ $25

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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.