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weighted-average cost flow assumption

(Dictionary)

Author:
Harold Averkamp, CPA, MBA

Definition

Used in the periodic inventory method to compute the value of inventory and the cost of goods sold. This average cost is based on the total cost of goods available for sale for the entire year (after all purchases for the year have occurred). The average cost per unit is then applied to the units in inventory and to the units that have been sold.

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About the Author

Harold Averkamp

For the past 52 years, Harold Averkamp (CPA, MBA) has
worked as an accounting supervisor, manager, consultant, university instructor, and innovator in teaching accounting online. He is the sole author of all the materials on AccountingCoach.com.

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