Periodic Average Costing
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Hi
I am trying to find a reference to a concept called "Periodic Average Costing". In weighted average costing the cost of the items is calculated by looking at the current inventory and cost and working out the average. I am told in periodic it looks over a set period and will alter any cost of sales in the period with the new average.
Anyone heard of it or can point me to a reference?
Thanks in advance.
Steve
I am trying to find a reference to a concept called "Periodic Average Costing". In weighted average costing the cost of the items is calculated by looking at the current inventory and cost and working out the average. I am told in periodic it looks over a set period and will alter any cost of sales in the period with the new average.
Anyone heard of it or can point me to a reference?
Thanks in advance.
Steve
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