Order Date Region Rep Item Units Unit cost Total sales 06/01/2018 East Jones Pencil 95 1.99 189.05 23/01/2018 Central Kivell Binder 50 19.99 999.5 09/02/2018 Central Jardine Penil 36 4.99 179.64 26/02/2018 Central Gill Pen 27 19.99 539.73 15/03/2018 West Sorvino Pencil 56 2.99 167.44 01/04/2018 East Jones Binder 60 4.99 299.4 18/04/2018 Central Andrews Pencil 75 1.99 149.25 05/05/2018 Central Jardine Pencil 90 4.99 449.1 22/05/2018 West Thompson Pencil 32 1.99 63.68 08/06/2018 East Jones Binder 60 8.99 539.4 25/06/2018 Central Morgan Pencil 90 4.99 449.1 12/07/2018 East Howard Binder 29 1.99 57.71 29/07/2018 East Parent Binder 81 19.99 1,619.19 15/08/2018 East Jones Pencil 35 4.99 174.65 01/09/2018 Central Smith Desk 2 125.00 250.00 18/09/2018 East Jones Pen Set 16 15.99 255.84 5/10/2018 Central Morgan Binder 28 8.99 251.72 22/10/2018 East Jones Pencil 64 8.99 575.36 8/11/2018 East Parent Pencil 15 19.99 299.85 25/11/2018 Central Kivell Pen Set 96 4.99 479.04 12/12/2018 Central Smith Pencil 67 1.29 86.43 29/12/2018 East Parent Pen Set 74 15.99 1,183.26 15/01/2019 Central Gill Binder 46 8.99 413.54 01/02/2019 Central Smith Binder 87 15.00 1,305.00 18/02/2019 East Jones Binder 4 4.99 19.96 07/03/2019 west Sorvino Binder 7 19.99 139.93 24/03/2019 Central Jardine Pen Set 50 4.99 249.5 how to calculate > Average Unit Cost for the period June 2018 to end March 2019 Total Units sold between June 2018 and March 2019 Total Sales for the period June 2018 to end March 2019

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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.