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54Hi,
any one please explain how weighted average costing method will work. the below scenario will work after closing inventory or not.
The previous purchase of 199 pcs were completely sold, and there was no stock during the time of adjustment.
Average cost supposed to calculate as follows,
Existing Qty X cost = 0 x 0.2554 = 0
New Qty X cost = 396 x 0.295 = 116.82
Average unit cost =( value of Existing stock + value of new stock )/(existing qty + New qty) = 116.82/396 : 0.295
Thanks in advance.
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