Coachlight Inc. has a periodic inventory system. The company purchased 240 units of inventory at $13.00 per unit and 380 units at $14.00 per unit. What is the weighted average unit cost for these purchases of inventory?

$13.61  

Explanation:

The weighted average system of inventory valuation is one in which the unit price of every purchase is a part of the ending inventory irrespective of the number of inventory purchased and sold.

Unlike the FIFO method,  the expiration date of these inventory items is not a key consideration under this system.

                    Number of Units       Unit price                 Total cost

                         240                              $13                        $3120

                         380                               $14                      $5320

Total                 620                                                           $8440

The weighted average unit cost for these purchases of inventory        

= $8440/620

= $13.61  

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